News / CMA CGM profits surge in Q3, and Ceva acquisition 'starts to bear fruit'

© Michael Vi

CMA CGM has joined its liner peers in posting a huge profit for the third quarter, $567m, as the industry basked in an unexpected “favourable market environment”.

However, the French transport and logistics group said its outlook “remained under threat” from the impact of the pandemic and the “capacity strategies” of its rivals.

It reported net profit soared 1,100% in Q3 over the same period of 2019.

Group turnover improved 6.1%, to $8.09bn, for an ebitda of $1.7bn, representing a 68% increase on ...