Posted Jul 22, 2022, 9:55 AM
CMA-CGM is ready to make new efforts. Faced with the government’s desire to tax the “surplus profits” of the crisis, the Marseille shipowner, which has largely benefited from the surge in freight prices, announced this Friday new discounts to its French customers “to support the power of purchasing by French households and the economy”.
These new measures, in force for one year from August 1, “represent reductions of up to 25% in the freight rate”, details the shipping giant in its press release. Above all, adds CMA-CGM, they have been “extended to all of its customers in France, large groups such as SMEs and VSEs”.
750 euros reduction
In detail, the maritime carrier extends from 500 euros to 750 euros the reduction in freight rates “per 40-foot container for all imports into mainland France and overseas”. In addition, CMA-CGM, which operates a fleet of 580 ships, adds a reduction of 100 euros for the same type of containers on all French exports this time.
The carrier, which posted record profits of $18 billion in its last fiscal year, has already taken relief measures during the health crisis linked to Covid-19. It has thus frozen “floating” freight rates since September 2021 (and even May 2021 in the Overseas Territories)”. The group headed by Rodolphe Saadé also recalls having allocated to SMEs “dedicated capacity on board its ships, in the markets where the tensions are greatest (Europe, North America), at a negotiated rate usually accessible for commitments of much larger volumes. »
Pass on the declines
Faced with the government’s intentions to take advantage of the French companies that have benefited the most from the effects of the current crisis context, and even if the group is fundamentally convinced that the “maritime transport” component remains marginal in the selling price of products necessities, CMA-CGM already announced at the end of June discounts intended for 14 large retail chains in mainland France. The executive, however, deemed this effort insufficient.
The group, which employs 150,000 people worldwide, considers it “essential that these reductions be passed on to the prices of products intended for end consumers and that the departments of the ministry can ensure this”.
These new purchasing power support measures have also been defined with the Ministry of the Economy, Finance and Industrial and Digital Sovereignty. They “have been the subject of discussions with the Group’s customers and certain federations, including the CPME (Confederation of Small and Medium-Sized Enterprises”, specifies CMA-CGM.
How to deal with the rise of uncertainties?
Inflation, rising interest rates, Ukraine and now political uncertainty, the shocks are multiplying. To evolve in an increasingly complex environment, the editorial expertise of Les Echos is invaluable. Every day, our surveys, analyses, columns and editorials accompany our subscribers, help them understand the changes that are transforming our world and prepare them to make the best decisions.
I discover the offers