CMA CGM raises cost efficiency target and rationalizes APL

CMA CGM now raises the target of the cost efficiency plan announced just a few months ago, and the French liner company will streamline its shipping operations, a move that will mean rationalizations at Singapore-based acquisition APL and ANL.

Photo: PR-foto/CMA CGM

France's CMA CGM raises its cost reduction target in the efficiency plan announced in late March, according to an earnings update published Wednesday.

CMA CGM says in the report that it raises its efficiency target from USD 1.2 billion to USD 1.5 billion, noting that it has already achieved savings of USD 245 million since the plan was launched.

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