News / CMA CGM posts 'expected' Q4 loss after freight rates tumble

© Sheila Fitzgerald |

French transport and logistics group CMA CGM plunged into the red in the final three months of 2023, despite increasing its shipping volume, as freight rates on liner services tumbled.

Group chairman and CEO Rodolphe Saadé said conditions in shipping markets had “deteriorated progressively during the year”, and “Our results are down, as we expected.”

CMA CGM’s net income for Q4 contracted to a loss of $90m, compared with a net profit of $3bn the year before – however, for the full-year, ...