CMA CGM has announced that its Singapore-headquartered subsidiary, APL, will exit the Asia-Europe trades after the summer.
The announcement came as the French carrier reported its first-quarter results this morning, which included $1.7bn in revenue from recently acquired 3PL Ceva Logistics.
However, it was the decision to withdraw APL from a series of trades and instead focus on its transpacific and intra-Asia services that caught the eye, potentially reversing CMA CGM’s long-held …
The post APL...
https://theloadstar.com/apl-to-quit-asia-europe-trade-as-cma-cgm-eyes-greater-cost-saving/