CMA CGM confirms downturn with massive drop in earnings

The net income of the French shipping group plummets by 94.5%. CEO Rodolphe Saadé expects more pain ahead.
Freight prices are back to pre-corona crisis levels, says CEO Rodolphe Saadé. | Photo: Ludovic Marin/AP/Ritzau Scanpix
Freight prices are back to pre-corona crisis levels, says CEO Rodolphe Saadé. | Photo: Ludovic Marin/AP/Ritzau Scanpix

Yet another quarterly report from a major liner company highlights the ongoing crisis in container shipping just a year on from the historic profits of the booming pandemic market.

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