Another container-line quarterly report, another surprisingly big profit announcement in the midst of the coronavirus pandemic. Second-quarter results of France’s CMA CGM followed the same pattern as Maersk. Volume down, revenue down, costs down even more, so profits up.
On Friday, CMA CGM reported net income for the group of $136 million for the second quarter of 2020 (Q2 2020) versus a net loss of $109 million in Q2 2019.
Shipping division performance
CMA CGM’s container-shipping division...
https://www.freightwaves.com/news/cma-cgm-posts-strong-q2-profits-predicts-stronger-q3