CMA CGM comments on market

Mgmt from French container shipping co CMA CGM have made remarks on the company and the sector

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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.