News / CMA CGM to use $18bn profits for further growth and concessions to SMEs

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Photo: CMA CGM © Digitalsignal | Dreamstime.com

By Mike Wackett

07/03/2022

CMA CGM is to ringfence 90% of the $18bn net profit it made last year for growth, including purchasing more ships and equipment, and pledged exclusive space on its vessels to small and medium-sized shippers.

The French line is among major ocean carriers under fire from US lawmakers who accuse them of unfairly driving up prices.

A joint letter from the chairs of two US congressional oversight panels last week, sent specifically to Maersk, CMA CGM and Hapag-Lloyd, said it was “deeply ...

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Topics

Asia-North Europe CMA CGM small and medium sized enterprises (SME) Small shippers Takeover Talk The Purse Strings Transpacific Trade

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