CMA CGM Returns to Profit

5 September 2010 (Last Updated September 5th, 2010 18:30)

French containership operator CMA CGM has reported a profit of $864m for the first six months of 2010, reversing the loss of $518m it reported in the first half of 2009. CMA CGM reported a revenue of $6.8bn, up by 41% compared with $4.7bn in the corresponding period a year ago. T

French containership operator CMA CGM has reported a profit of $864m for the first six months of 2010, reversing the loss of $518m it reported in the first half of 2009.

CMA CGM reported a revenue of $6.8bn, up by 41% compared with $4.7bn in the corresponding period a year ago.

The company’s freight volumes also rose by 22% during the same period to 4.4 million teu against 3.6 million teu last year.

The company attributed the growth to its decision to invest in large container ships, cost reduction plans and the upturn in global economies that led to an increase in freight volume and freight rates.