CMA CGM suffers heavy loss in third quarter

CMA CGM has reported a US$268m loss in the third quarter of 2016, compared to a US$51m profit recorded in the same period last year.

Excluding Neptune Orient Lines (NOL), of which CMA CGM assumed control in June 2016, the company recorded a US$202m loss in the third quarter of the year.

Excluding the recently-acquired company, revenue fell by 16% year-on-year to US$3.3bn, while with the inclusion of NOL, revenue increased by 34% year-on-year to US$4.5bn.