CMA CGM initiates $1.2bn cost saving scheme

CMA CGM initiates $1.2bn cost saving scheme

Despite announcing record $23.5bn revenues for last year, France’s CMA CGM on Friday revealed it is initiating a $1.2bn cost saving scheme.

CMA CGM’s 2018 results show the liner, the world’s third largest containerline, carried more than 20m teu last year for the first time. The company said its recurring EBIT margin was “considerably above” the industry average but in a bid to improve profitability a $1.2bn cost saving scheme is being launched which will centre around the optimisation of lines and brands, and by further streamlining the liner’s processes.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Avatar
    Michael
    March 9, 2019 at 6:36 am

    May I know the plan of cost saving?