P3 partner in significant decline

French CMA CGM, the third largest container carrier in the world and partner in the announced P3 alliance, saw its profits cut in half in the 3rd quarter of the year.

French container carrier CMA CGM may have transported more containers in the third quarter of the year, but the result on the bottom line does not lie. Container capacity increased by 11 percent, to 1.6 million teu in the 3rd quarter, and the amount of containers transported increased from 2.7 million teu to 3.0 million teu, but the operating result (EBITDA) was cut in half compared to the same period last year, so the shipping company achieved a result of USD 238 million, compared to USD 541 million in 2012.

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