ContainersEurope
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.
May I know the plan of cost saving?