CMA CGM has announced that its Singapore-headquartered subsidiary, APL, will exit the Asia-Europe trades after the summer.
The announcement came as the French carrier reported its first-quarter results this morning, which included $1.7bn in revenue from recently acquired 3PL Ceva Logistics.
However, it was the decision to withdraw APL from a series of trades and instead focus on its transpacific and intra-Asia services that caught the eye, potentially reversing CMA CGM’s long-held …
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Source: The Loadstar