Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

CMA CGM posts higher Q1 profits

From Marine Link:

Container shipping line CMA CGM posted higher first-quarter profits, helped by a turnaround at recently acquired NOL, and gave an upbeat assessment for the current quarter in another sign that the shipping industry is emerging from a slump.

The French-based group reported on Friday a first-quarter net profit, including Singapore-based NOL which it consolidated in June last year, of $86 million compared with a $100 million loss in the same period of 2016.

This was also above the $45 million net profit it recorded in the previous quarter when the privately held firm returned to profit after heavy losses earlier in 2016 during a severe downturn in container shipping.

More at Marine Link

FacebookEmailShare

Find other news on this topic by clicking on the tags and category key words above.