CMA CGM's Q1 Net Profit Plunges 77.7% to $250M as Shipping Rates Fall

GateNews
According to CTV Finance, French shipping giant CMA CGM reported on May 22 that first-quarter net profit plunged to approximately $250 million from $1.12 billion a year earlier, a 77.7% decline. The company's core shipping business revenue fell 8.5% year-on-year to $80.2 billion, despite a 1.5% increase in container transport volume. The decline was attributed to falling freight rates and market disruptions in global supply chains, exacerbated by tensions in the Middle East.
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