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Looking
ahead the shipping line will also be focusing
on trades that don't share the same ominous
outlook as Asia-Europe.
"CMA
CGM is a global carrier. It is true that
we are very strong on the Asia-Europe trade.
But at the same time we are also in other
markets like Africa. West Africa today is
doing fairly well. South American markets
are also picking up and booming.
"The
US is starting to pick up also. So we see
that yes Europe is under pressure. But there
are other markets that are doing better
than expected," he said.
The
carrier is also turning its attention to
niche markets, which may be small in scale
but are also helping to offset the gloom
in Europe on a collective basis.
One
such trade it has focused on developing
is to the French Antilles, which has given
the carrier a small boost in earnings and
business. And most importantly, it is a
very stable trade, he said.
Mr
Saade also raised the possibility of future
acquisitions for CMA CGM to raise its profile
in more niche markets.
"We
are a global carrier, but there are still
markets where we hold a small market share
and we would eventually like to buy carriers
that are very strong in niche places, as
we have done with CGM, ANL and Delmas,"
he said.
CMA
CGM looks poised to confront the challenges
going forward and appears to have a solid
game plan in place. If indeed the carrier
can achieve its profit target for 2012 it
will bode very well for an industry beset
with pessimistic news today.
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