CMA CGM settles loan to acquire NOL but posts Q3 loss of US$268m
FRENCH shipping giant CMA CGM has posted a third-quarter loss of $268 million, reversing a profit of $51 million a year earlier due mainly to lower volume and rates, IHS Media reported.
Excluding expenses related to the company's September acquisition of Neptune Orient Lines (NOL), parent of APL, the container line's loss was $202 million, the third quarterly loss in a row.
- Geodis buys US freight broker Velocity Transport
- Box cargo shifts to bulk vessels to find affordable capacity
- Maersk resumes Yantian calls as nearby ports remain under pressure
- New system launched for first- and last-mile cargo tracking for forwarders
- Egypt agrees to release Ever Given from Suez Canal
- Culina buys Eddie Stobart owner GreenWhiteStar
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