CMA CGM warns that prolonged China-U.S. tariffs could have lasting effects on global trade volumes, highlighting the potential disruptions to supply chains and market stability. The shipping giant made the statement while reporting strong first-quarter 2025 results, demonstrating resilience despite ongoing trade uncertainties.

"The start of 2025 was shaped by a deteriorating geopolitical environment and the announcement of a significant increase in customs duties by countries such as the United States and China," the French shipping and logistics company said.

"If fully implemented, such measures could have a long-term impact on international trade volumes, while the Red Sea shipping disruptions observed throughout 2024 persist."

CMA CGM added that visibility of trends in global trade remains "limited" and would depend on potential tariff policy announcements and new geopolitical developments.

CMA CGM emphasized the importance of effective capacity management, cost control, and route diversification, along with investments in optimization

on, monitoring, and forecasting technologies to stay competitive.

"Effective capacity management, cost control, route diversification, and transformation through investment in optimization, monitoring, and forecasting technologies are essential to maintaining competitiveness," the shipping line said, adding that the group is adapting to a complex environment while anticipating market dynamics.

Meanwhile, despite an uncertain geopolitical environment and a volatile market, CMA CGM delivered a robust performance in the first quarter of 2025, driven by its key investments.

It said that the global shipping and logistics market has been weathering a highly volatile period since the start of the year, amid rising tensions from the introduction of trade barriers, combined with destabilizing geopolitical conflicts, are disrupting the operation of supply chains, which now need to be adapted to the new situation.

It said that revenue stood at US$13.3 billion in the first quarter of 2025, driven mostly by the group’s maritime shipping business. EBITDA totaled US$3.1 billion, 29.1% higher than in first-quarter 2024. 

"After the many operational challenges of 2024 caused by the situation in the Red Sea and the Gulf of Aden, 2025 got underway against a backdrop of market uncertainty created by escalating geopolitical tensions and a resumption of the trade war between the United States and China. Nevertheless, demand for transport and logistics services remained buoyant, enabling the Group to deliver a solid performance for the first quarter of 2025," CMA CGM said.

Volumes up 4.2% in Q1 2025

CMA CGM carried 5.8 million TEUs in the first quarter of 2025, up 4.2% from the prior-year period. The increase can be attributed to sustained global trade and demand for freight transport in the first quarter. 

Consolidated revenue from maritime shipping operations amounted to US$8.8 billion over the quarter, up 11.5% year on year. EBITDA totaled US$2.5 billion, 30.0% higher than in the first quarter of 2024.

In the first quarter, the group's logistics activities continued to grow, boosted in particular by the consolidation of Bolloré Logistics on February 29, 2024, and good momentum in contract logistics.

It said that revenue from logistics activities totaled US$4.3 billion in the first quarter of the year. EBITDA stood at US$399 million, a 10.5% increase on first quarter 2024. 

CMA CGM said revenue from other activities (port terminals, CMA CGM Air Cargo, CMA Media) increased by 30.9% to US$833 million, although it did not disclose the specific revenue for each vertical.

The French shipping and logistics company noted that it is expanding further in France and Europe and stepping up its presence in strategic markets such as the United States, India, the Middle East and Brazil.

In February, CMA CGM announced a multi-year US$20 billion investment plan in the US to strengthen its presence in the maritime shipping and logistics sectors. The company will set up a major air freight hub will also be set up in Chicago, while port infrastructure will be extended in several strategic locations including New York, Los Angeles, Dutch Harbor, Houston and Miami.

As part of its port strategy in the Middle East, the Group has also signed contracts to operate the Latakia container terminal and a dry port in Egypt. 

Lastly, CMA CGM has become a majority shareholder in Brazil's strategic multi-terminal operator, Santos Brasil, strengthening its position and scope on the South American continent.

CMA CGM said it is also maintaining its development momentum by consolidating its presence in the high-potential air freight market with the takeover of Air Belgium's freight activities.

CEVA Logistics, a subsidiary of CMA CGM, announced its acquisition of all outstanding shares in Borusan Logistics, a major contract logistics player in Turkey. With this strategic transaction, the Group will be able to occupy a significantly larger footprint in this key region and enjoy favorable long-term growth prospects.

CMA CGM noted that it is continuing to transform its businesses with investments in AI, innovation and decarbonization.