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CMA CGM’s earnings soar on shipping rush -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: An Egyptian fisherman is seen riding on his boat as he passes by a CMA CGM vessel passing through Ismailia. This was July 7, 2021. REUTERS/Amr Abdallah Dalsh

PARIS (Reuters) – Shipping company CMA CGM reported Friday a strong third-quarter performance and indicated it was expecting a stronger end to the year. This is because of intense demand, which has kept container capacities and freight rates very high.

CMA CGM in France, which is one of the largest container lines in the world, reported a net profit increase to $5.6 Billion in the third quarter, up from $567 MILLION in the previous year. Core EBITDA earnings increased to $7.1 Billion from $1.7B.

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