CMA CGM Sees $2 Billion Turnaround in 2020

Home Community Industry News CMA CGM Sees $2 Billion Turnaround in 2020

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    Greensea Systems
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    By Mike Wackett (The Loadstar) –

    CMA CGM has posted a net profit of $1.75bn for 2020, following a loss of $229m the year before, and said it was “confident” about the outlook for 2021.

    The French carrier stormed to a net profit of $1bn in the final quarter as freight rates soared across the world’s tradelanes, buoyed by consumer demand and supply chain bottlenecks.

    Rodolphe Saade, chairman and CEO of CMA CGM Group said: “In 2021, the volumes shipped should remain strong, at least throughout the first part of the year.

    “We are expanding our service offering by further developing our logistics business. And we are growing our fleet of vessels with the delivery of 13 additional LNG-powered containerships.

    Read more by visiting gCaptain.

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