Shipping giant CMA CGM has seen a significant boost in its second-quarter revenue, reaching $15.7bn, a 19 per cent increase year-on-year. This growth is attributed to customers stockpiling goods in anticipation of new tariffs and general geopolitical uncertainty. Net profits climbed to approximately $770mn, up from $520mn in the previous year.

Rising Chinese exports and strong US demand contributed to a 6 per cent rise in transported volumes for CMA CGM during the April-to-June period. This surge helped offset increased insurance and fuel costs stemming from the Middle East conflict. The company, led by billionaire boss Rodolphe Saadé, also imposed surcharges on customers to recoup expenses.

CMA CGM is actively expanding its global logistics operations, including a $1.4bn deal to acquire FedEx's third-party logistics business. Despite challenges like Houthi attacks in the Red Sea and a fragile ceasefire in the Middle East, the company is investing in the region and implementing workarounds for transportation. However, CMA CGM cautions that the environment remains volatile, and the stockpiling trend may not last indefinitely.