News / CMA CGM liftings up in 2019, but new rules and Ceva loss wipe out profits

CMA CGM has posted a net loss of $229m for 2019 – this compares with a profit of $34m the year before.

The French transport group’s result was dragged down by the $329m negative impact of new accounting rules on vessel time charters and a $140m loss by Ceva Logistics.

However, CMA CGM remains bullish about its liner trade outlook and its ability to turn around the loss-making logistics arm, despite the adverse effect of the coronavirus outbreak on Chinese exports.

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