September 5, 2010

CMA CGM Returns to Profit

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

By cms admin

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.