ShippingWatch

CMA CGM delivers profit of USD 567 million

French CMA CGM exits 2015 with a consolidated profit of USD 567 million and a small decline from 2014. "The beginning of 2016 was tough and marked by freight rates under pressure," says group vice chairman Rodolphe Saadé.

Although dark skies were lurking over 2015, French CMA CGM managed to succeed in more aspects than most of its peers. This includes the fact that the French container carrier closed last year with a consolidated net profit of USD 567 million, which is only a slight setback of 2.9 percent from the profit of USD 584 million in 2014, according to the annual report published Monday night.

2015 was also the year where CMA CGM completed the takeover of Singapore-based carrier NOL, which Maersk Line was rumored to have interest in as well. The carrier's revenue decreased 6.4 percent down from USD 16.7 billion in 2014 to USD 15.7 billion in 2015.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs