French shipping group CMA CGM said that its 2007 net profit rose 58 percent to $966 million as it launched 42 new services throughout the world and took delivery of 98 new vessels.
The company said sales rose 40 percent to $11.8 billion. Stripping out acquisitions, growth was 35 percent, it said. CMA CGM's fleet is now composed of 384 group-operated ships with a carrying capacity of 913,000 twenty-foot equivalent units (TEU) compared with 698,000 at the end of 2006. It said the container fleet grew 28 percent in 2007 for a total of 1,535,000 TEU. In the statement, Chairman Jacques Saade was quoted as saying the company was preparing for "the arrival of a new generation of large vessels in our fleet which will represent a new era for the maritime shipping industry and for CMA CGM". CMA CGM competes with companies such as A.P. Moller-Maersk and Evergreen Marine Corp. A CMA CGM spokesperson said earlier this week the company was not interested in acquiring Germany's Hapag-Lloyd amid speculation it could be split off from parent group Tui.
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