Archive for August, 2015

CMA CGM Posts 67 Percent Quarterly Profit Growth

French container line CMA CGM Group recorded USD 156 million net profit for the quarter ended June 30, up 66.7% compared to USD 94m net profit in the second quarter of 2014, with greater volumes carried and a dip in unit costs helping offset a sharp fall in freight rates and industry overcapacity.

Volumes carried during the second quarter increased by 6.2% year-on-year, to 3.3 million TEUs, compared to global market volume growth of between 1% and 2%. The company’s unit costs for the quarter fell 10.9%, largely due to the sharp fall in oil prices. However, average revenue per container carried decreased by 7.8%, leading to a 2.1% dip in quarterly revenue for the period, which stood at USD 4.11 billion.

Panama Canal Suspends Draft Restrictions

The Panama Canal Authority (ACP) has suspended the first draft restriction that was scheduled to go into effect September 8, 2015.

Although the level of Gatun Lake is still well below normal levels for this time of the year, and the “El Niño” phenomenon is still present in the region, the amount of rainfall received in the Canal Watershed during the last few days—in addition to the water conservation measures implemented and the works done to deepen the navigational channel—has made it possible for the Panama Canal to suspend the announced restriction.

New website for maritime lawyers in Tunisia

Our Tunisian law firm announce the launch of its new specialised website on admiralty and maritime law in Tunisia.

Achour law firm has launched today its new specialised website on all legal aspects of the Tunisian admiralty and maritime law. Through this specialized website, we offer to our maritime clients a full range of marine legal services in Tunisia and worldwide. With the help of The Marketing Heaven and targeted audience, this new website will soon become visible for all interested parties.