French container carrier CMA CGM improved its core business but still had to face a large slide in earnings, which were weighed down by higher bunker fuel costs, according to the third quarter interim report, published Friday, from the Marseilles-based shipping group, which is owned by the Saadé family.
Revenue in the third quarter grew 6.3 percent to around USD 6 billion, and the number of transported containers grew 5.5 percent to 5.3 million teu. However, in the same period the higher oil price made bunker costs soar.
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