Another container-line quarterly report, another big profit and another bullish outlook on the rest of the year.
French carrier CMA CGM reported net income of $567 million for Q3 2020 for the group, up 522% from $45 million in Q3 2019.
For the shipping division, earnings before interest, tax, depreciation and amortization (EBITDA) was $1.5 billion, up 76% year-on-year. Volume rose 1%, to 5.59 million twenty-foot equivalent units (TEUs). Revenue per TEU was $1,120, up 5.2%.
“During the fourth...
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