Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
France-based CMA CGM, the world's third-largest container line, reported
first-quarter net profit of $785 million, recovering from a $90 million loss in
the final quarter of 2023.
Brisk demand is expected to continue but most of an expected 9-10% expansion in global fleet capacity in 2024
will occur during the rest of the year, Chief Financial Officer Ramon Fernandez
told reporters on a call.
"As a result, the impact of the Red Sea situation on freight rates,
however long the conflict lasts, should progressively be absorbed and the
shipping market return to the overcapacity seen at the end of 2023," he
said.
CMA CGM's rivals like Maersk and Hapag-Lloyd have
similarly cited favourable early-year trends and overcapacity risks.
