News / $2bn turnaround for CMA CGM in 2020 with demand and freight rates cruising

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 (pictured above), chairman and CEO of CMA CGM Group said: “In 2021, the volumes shipped should remain strong, at least throughout ...