CMA CGM reported higher second-quarter profits in the second quarter while they expect improvements in the current quarter as the industry recovers quickly from the COVID-19 disruption.
Specifically, CMA CGM recorded a net profit of $136 million for the second quarter compared with a year-earlier $109 million loss.
Ship volumes decreased by 13.3% in comparison to 2019’s same quarter but the decline was less than the 15% drop CMA CGM had initially forecast.
The company stated that
As lockdown measures were gradually lifted, carried volumes bounced back strongly as of May under the combined effect of inventory rebuilding and the sharp recovery in the consumption of goods, notably in the United States.
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