News / French government 'presses' CMA CGM to cut ocean rates for retail imports

Mr R Saade et Mr Macron meet at CMA CGM's HQ in September 2021

In a seemingly patriotic gesture, against a backdrop of rising inflation, CMA CGM has announced it is lowering ocean freight rates to support the purchasing power of French households.

It will introduce a €500 ($520.70) reduction per container on all imports for its major retailer customers in France and its overseas territories for a year from 1 August.

The move follows talks with the French government, said CMA CGM.

Recent months have seen the Macron administration play a behind-the-scenes role in the Marseilles-based group, as ...