Fortress SITC – liner shipping's insulated star performer
Is it a bird? Is it a plane? Nope, it’s a ship
Photo: CMA CGM Group
By Alex Lennane
CMA CGM Group has announced a “robust performance” in the second quarter, with revenues up 6.8%, to $13.1bn. But insiders say not all is well in parts of the group.
Ebitda was down 4.3% to $2.47bn, while net income fell $670m to $661m.
The group said the revenue rise was in part driven by logistics, which was bolstered by the Bolloré Logistics integration.
Shipping volumes were up 6.8% to 6m teus. The group said: “The increase is due to buoyant world merchandise trade ...
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