Announcing its full year results on Friday, France’s CMA CGM has said it has no immediate plans to order any new ships. The world’s third largest containerline, which registered a $452m loss for last year, said it did not anticipate any new ship orders on a short-term basis in order “to maintain the still delicate balance between supply and demand”.
Maersk Line, the world’s largest liner, has made similar announcements on recent months.
CMA CGM also revealed it has postponed to 2018 the delivery of three vessels originally planned for this year.
While registering a massive annual loss, senior management at the Marseille-headquartered firm will have been buoyed by the final quarter of 2016 it managed to register a $45m profit.