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CMA CGM cuts its CO2 emissions by 4% in 2020

5 years ago
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French container shipping major CMA CGM reduced the overall emissions of its fleet by 4% in 2020 compared to 2019, the company said in its annual report for 2020.

Since 2008, the group has reduced its CO2 emissions by 49% (TEU-km), in line with its objective of reaching -50% emissions by 2030.

CMA CGM Champ Elysses;
CMA CGM Champ Elysses; Image credit CMA CGM Group

This reduction is 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 has ascribed the result in part to its switch to LNG as fuel as part of its energy transition. Namely, the company has set a target of owning a fleet of 32 LNG-powered container ships by the end of 2022.

The French major expects to take delivery of 13 newbuild LNG-powered ships to meet the target.

During the fiscal year 2020, CMA CGM improved the profitability in all its business activities, posting an increase of 3.9% compared with 2019 at $31.5 billion.

The group posted $1.75 billion in net profit, group share, compared to a loss of $229 million in 2019.

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The performance reflects the robust momentum of international trade and the effectiveness of the cost control plan.

CMA CGM is bullish on the outlook for 2021 amid a continued increase in demand for both container shipping and logistics.

Source: offshore-energy.biz
Via: norvanreports
Tags: alternative fuelsCMA CGMCO2 emissionsinternational tradeLNG
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