Airfreight demand expected to weaken through Q2
Weak ecommerce demand has seen cancellations of airline block space agreements and charters, particularly to the ...
© Michael Vi |
By Alex Lennane
CMA CGM has published strong second-quarter results on the back of capacity and rate discipline, despite shipping volumes down 13.3% on the same period of last year.
Group ebitda was 26.3% higher than Q2 19, at more than $1.2bn; revenues, down 9%, came in at $7bn “due to a slowdown in volumes”.
But the ebitda margin was 17.2%, against 12.4% a year earlier, with an operating margin of $530, or 7.6%, against $286m or 3.7% last year.
In shipping, ebitda grew by 30% ...
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