Mgmt from French container shipping co CMA CGM have made remarks on the company and the sector
- Rev of $19.91B vs $15.32B (in 2021)
- Freight rates to continue dropping
CMA CGM - EXPECTS PULLBACK IN FREIGHT RATES TO ACCELERATE IN Q4…
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Additional details:
- Strong performance allowed company to reduce debt significantly, paying down $5.3B and reducing net debt to $78M
- Transported volumes rose 4.1% to 5.7M TEU
If CMA CGM’s container volume went up and revenues were up, contradicts the “180 degree turn” bit. If the company is sensing a market slowdown, then it is a slowdown.