News / CMA CGM liner trades pummelled in Q1 – and there's worse to come

Photo: © Sheila Fitzgerald

CMA CGM has warned that its Q1 result, despite being substantially weaker than the same period in 2022, will probably be its best this year.

In an illustration of the formerly sky-high, now fast-dropping freight rates, a fall of just 5.3% in CMA CGM’s Q1 volumes saw revenue plummet some 40%. Volumes fell, from 5.3m teu in Q1 22, to 5.02m.

The findings are reflected across the board; forwarder John McCown calculating that revenues across the container industry fell to about $13bn ...