News / CMA CGM stays positive, despite 'unsatisfactory' third-quarter results

© Vladimir Serebryanskiy

CMA CGM reported a $268m net loss in the third quarter, despite efforts to focus on higher-paying cargo, bringing the carrier’s cumulative trading deficit for the nine-month period to $496m.

Excluding the acquired NOL business, the world’s third-largest carrier made a loss of $202m in the third-quarter, compared with a profit of $51m in the same period of 2015.

On a like-for-like basis, also excluding NOL, CMA CGM’s revenue plunged by 16.3% to $3.33bn. The average freight rate per teu also fell.

The carrier said: “In ...