From Reuters and gCaptain, November 20:
Container shipping group CMA CGM said on Friday shipping activity remained strong in the final quarter of 2020 after a rebound from initial coronavirus-related disruption boosted the French company’s third-quarter profits.
CMA CGM, the world’s fourth-largest container shipping line, said its EBITDA margin rose to 21.0% in the third quarter from 17.2% in the previous quarter and 13.3% in the year-earlier period.
Brisk shipping activity should allow CMA CGM to increase the EBITDA margin further in the final quarter, it said.
Like market leader Maersk, which this week raised its full-year earnings target, CMA CGM has pointed to strong shipments for e-commerce as the coronavirus pandemic shifts consumer demand online.
“During the fourth quarter, maritime activity is more sustained than during the third quarter due to the ongoing increase in volumes,” CMA CGM said....
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