The shipping company CMA CGM published on Friday a new drop in its freight rates “to support the purchasing power of French households and the economy”, following a first gesture announced at the end of June. This measure will take effect from August 1, and concerns Metropolitan France and overseas territories. In Polynesia, this fall in the cost of freight should therefore be passed on to the prices of imported products. From when ?
The transport giant, with profits inflated by the crisis, will reduce its freight rates by 750 euros by 40-foot container to mainland France and the Overseas Territoriesi.e. up to 25% of its prices, instead of 500 euros initially planned.
The measure is extended to all of its customers in mainland France from August 1 and for one year, when it was to be reserved for large retailers, the group said in a press release.
This drop in the cost of freight should therefore contribute to the fight once morest inflation. Polynesia is primarily concerned, since its imports of goods mainly arrive by sea. It is therefore the entire distribution chain that will be impacted. Importers, wholesalers and retailers should therefore pass on this drop. But from when?
The CMA CGM company also announced a reduction of 100 euros per 40-foot container for all French exports.
The world’s third-largest shipowner, CMA CGM is in the crosshairs of parliamentarians, on the left but also in the majority, who wanted to create a tax for companies that have made significant profits thanks to inflation. But on Saturday the National Assembly rejected in extremis this tax on the “superprofits” of large groups.
Coming out of the red in 2020, the group published a net profit of 7.2 billion dollars in the first quarter alone in early June, driven by the overheating of maritime transport and the disorganization of global supply chains.
The CEO of CMA CGM, Rodolphe Saadé, defended himself on Wednesday during a hearing in the Senate, stressing that he was “ready to help”but he didn’t want to be “the only one to pay”.
“I, the CMA CGM group, a French group, flagship of maritime transport in France, do not want to find myself at a disadvantage” once morest the competition – in particular the Danish Maersk and the Swiss MSC –, he hammered.
The leader noticed that freight rates have lost 40% in recent weekspredicting “a soft landing” for shipping following two years of overheating.
In addition to the CMA CGM, TotalEnergies is also in the crosshairs of parliamentarians, on the left but also in the majority, who wanted to create this tax for companies that have made significant profits thanks to inflation.
TotalEnergies announced in early February a net profit of 16 billion dollars in 2021, the highest for at least 15 years, linked to the sharp rise in oil prices.
The Minister of the Economy Bruno Le Maire welcomed the timely gestures of the energy company Total and the maritime carrier CMA-CGM on Friday to offer a discount at the pump of 20 cents for one and a reduction in freight rates of 750 euros per 40-foot container for the other.
