CMA CGM closed the third quarter of 2025 with a mixed scorecard that underlines how volatile geopolitics continue to reshape global liner networks. Group results fell year-on-year, but the core shipping arm lifted liftings and stabilized sequentially, a sign that network agility and cost discipline are cushioning the shocks.
Volumes Up; Pricing and Margins Down
CMA CGM transported 6.17 million TEU in Q3, +2.3% year-on-year and +3.4% versus Q2, despite a stop-start environment on the China–U.S. trades and ongoing Red Sea/Gulf of Aden diversions. Shipping revenue declined 17.4% to $8.96B, with EBITDA down 48.8% to $2.23B and margin easing to 24.9% (-15.3 pts). The pressure point is yield: average revenue per TEU slipped 19.2% to $1,452, reflecting softer demand on key east–west lanes and intensifying capacity additions across the global fleet.
At Group level, revenue fell 11.3% to $14.04B; EBITDA decreased 40.5% to $2.96B; and net income declined to $749M. Still, management flagged quarter-on-quarter improvement after a Q2 marred by near-standstill flows between China and the U.S.
“In a global environment that remains highly uncertain, our Group continues to demonstrate resilience and discipline,” said Rodolphe Saadé, Chairman and CEO. “The…