CMA CGM sees profit decrease by 73% as weaker market conditions and high inflation affect performance

CMA CGM suffered a 73% decline to US$9bn in its operating profit as market conditions normalised to pre-pandemic levels, lowering consumer demand experienced in the previous years.

The French carrier also cited widespread inflation and major inventory reductions in the first half of 2023 as supply chains readjusted, as the main reasons behind the performance.

Group revenue dropped by 37% to US$47bn and the market environment impacted CMA CGM’s shipping sector.