Supply Chain Research

CMA-CGM’s fourth quarter revenues increased 3% vs. the third. That outpaced Maersk’s flat result but was well behind Hapag-Lloyd’s 13% expansion. The company increased its achieved rates by 3%, implying no volume growth even though industry rates increased by 9% on average. The company expects the recovery in rates to continue, though underscored the “delicate balance” between supply and demand. With only the Taiwanese shippers left to report, it looks like industry revenues increased 2% in the fourth quarter vs. the third. The issue for CMA-CGM now is to decide how, or whether, to act o...