CMA CGM braces for an even greater financial hit from French windfall tax
French MPs have amended a bill before parliament that would make a temporary windfall tax ...
By Alex Lennane
CMA CGM has lost a court case in the US brought by a Los Angeles port drayage company. Lincoln Transportation was owed $600,000 in transport bills by the French shipping line after a near two-year stint of moving containers between the port and the line’s customers. When Lincoln sued for its unpaid debt, CMA CGM filed a counter claim for $1.2m in demurrage charges. The court – and appeal court – however, said CMA’s claim would have been illegal under its contract with Lincoln. Freightwaves reports.
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