CMA CGM profit plunges 50% even as disruptions lift quarterly revenue past $13bn

CMA CGM saw its second-quarter earnings sink even though revenue surged as geopolitical tensions continued to impede the fluidity of global trade, creating congestion amid growing volumes.

Net income for the world’s third-largest liner operator was $661m in the second quarter, down 50% from $1.3bn in the same period a year earlier. The group saw only a 30% profit drop in the first quarter.