In the second half of 2020, however, volumes bounced back sharply with CMA CGM recording a 6.3% volume growth in the fourth quarter.

Overall the decline in emissions outstripped the drop in volumes for the whole of 2020.

CMA CGM noted that has reduced emissions per TEU/km travelled by 49% in 2008, and the ocean carrier is aiming to further cut emissions by 50% by 2030.

“This reduction is fully aligned with the group’s target of becoming carbon neutral by 2050 and increasing the share of alternative fuels consumed to 10% by 2023,” CMA CGM said.

As part of these efforts, the shipping line has been investing in LNG-powered vessels. It will have a fleet of 32 containerships using LNG propulsion by the end of 2022  — including 15,000 TEUs and 23,000 TEU ships.

Rodolphe Saadé, chairman and CEO of CMA CGM Group, earlier said that this is all in-line with the firm's aim to ramp up its decarbonization efforts.

“I believe that as carriers we have a major role to play when it comes to the protection of the environment,” Saadé told the recent TPM21 conference. “We can’t talk about projects that we will be able to deliver in 10-15 years but what is important is what we’re doing now … and as CMA CGM we have decided to be proactive and take action — that is why we've decided to move forward with vessels that are LNG-propelled,” he said.

“Maybe LNG is not the technology of the future. Maybe there will be technologies that are far better than LNG, but it is the best technology available for today.”

Saadé said LNG would allow the company to reduce its CO2 emissions by 20%.