CMA CGM embarks on second phase of Ceva turnaround

The second part of the turnaround initiated by CMA CGM for its Ceva Logistics acquisition has begun. Much of the loan has been paid off, but Ceva still burdens the group's debt.

Photo: PR / Ceva Logistics

The second phase of the turnaround plan aimed at turning logistics acquisition Ceva into a profitable part of CMA CGM has now been launched in earnest, reveals the CMA CGM group's 2019 annual report, which also quantifies Ceva's first year as part of the French shipping group.

In 2019, Ceva contributed USD 7.1 billion to the group's revenue, which landed at USD 30.3 billion for the year as a whole. According to the annual report, Ceva is thus the primary reason for the 29-percent increase in revenue that the group saw last year.

Read the whole article

Get 14 days free access.
No credit card required.

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

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Danske Bank makes commitment to CO2 neutral loan portfolio by 2050

By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.

Further reading

Related articles

Trial banner

Latest news

See all jobs