Increased orders from Southeast Asia reflect a shift in sourcing of goods from China to countries such as Vietnam, says world’s fourth-largest container shipping firm
A CMA CGM container ship in Le Havre, France. Picture: REUTERS/BENOIT TESSIER
Group sales surged 36.9% to $7.41bn, supported by a 4.4% increase in shipped volumes and the inclusion of CEVA Logistics, but core earnings were stable when removing the effect of CEVA and an accounting change relating to leases. Brisk China-US traffic, partly due to US importers anticipating further tariffs in a trade dispute between Washington and Beijing, buoyed CMA CGM’s activity in the second half of 2018.
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