Airfreight demand expected to weaken through Q2
Weak ecommerce demand has seen cancellations of airline block space agreements and charters, particularly to the ...
CMA CGM's tower, and Ceva's new home Photo: Christian Richters/ Zaha Hadid
By Mike Wackett
CMA CGM posted a $45m net profit for the third quarter, reducing the French transport and logistics group’s nine-month loss to $107m.
The number of containers carried in Q3 rose by an above-market par 5.1% on the same quarter of 2018, to 5.5m teu, which it attributed mainly to growth from its shortsea business, including the integration of Containerships.
However, excluding CEVA Logistics revenue, turnover fell 3%, to $5.88bn, as freight rates came under pressure.
The forwarding arm continued to operate in the ...
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