News / Assets sale boosts CMA CGM in Q1: 'market conditions are poor but profits are up'

CMA CGM's tower, and Ceva's new home Photo: Christian Richters/ Zaha Hadid

CMA CGM moved back into the black in the first quarter, thanks to the sale of terminals, and the carrier remains bullish about the outlook despite the impact of Covid-19 on its liftings.

The French transport and logistics group recorded a $48m net profit for Q1, compared with a loss of $37m the year before – but this was only achieved due to a $185m gain from the disposal of eight port terminals to joint-venture Terminal Link.

CMA CGM saw its volumes ...