by Manal Barakat, SeaNewsEditor

CMA CGM revealed significant earnings for 2024 due to the Red Sea reroutings.

The French liner announced that the group's revenues reached $55.5 billion in 2024, up 18% from the previous year.

The world’s third-largest operator of containerships carried 23.6m TEU last year, an increase of 7.8% compared to 2023.

Meanwhile, revenues from the group’s container shipping segment grew 16.2% to $36.5 billion.

In a statement, the carrier said, “After a year of normalisation for the transport and logistics industry in 2023 following the Covid pandemic, 2024 saw increased demand for maritime container shipping."

According to the group's latest performance, container volumes increased 7.8% to 5.9 million TEU in the fourth quarter from 5.5 million TEU in the same quarter the year before.

CMA CGM said it expected global trade to grow in line with stable global economic growth of around 3% but warned of the impact of US trade tariffs.

“The prospect of higher tariffs announced in the US could have an impact on trade and lead to a reorganisation of global supply chains in the medium term,” said CMA CGM.

The group further said that developments in the Red Sea and the delivery of new-built ships “will be decisive factors in shaping the market."