CMA CGM books billion-dollar profit in the fourth quarter

French container line CMA CGM exited the fourth quarter of 2020 with a USD 1 billion net profit, shows annual report. The strong container market is expected to continue into the first part of 2021, says CEO Rodolphe Saadé. The carrier expects to own 32 LNG-powered vessels before the end of 2022.

CMA CGM's CEO Rodolphe Saadé. | Photo: PR / CMA CGM

With a profit of close to USD 1.8 billion, USD 1 billion of which was booked in the last three months of the year alone, CMA CGM is the latest container carrier in the line to confirm that 2020 ended up being a seriously profitable year for container liners.

Friday evening, the French container line presented its fiscal report for the fourth quarter and 2020 as a whole. A year CEO Rodolphe Saadé describes as "a year of contrasts" that saw a weak first half-year be replaced by strong demand and sky-high rates in the second.

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