CMA CGM and Zim each posted first-quarter losses last week.
Both pinned the blame on escalating fuel costs, joining their container shipping peers in what has been a dismal first quarter.
CMA CGM chairman and chief executive Rudolphe Saade said of the line’s net loss of $77m: “The shipping industry is experiencing sustained growth but was hit in the first quarter by the sharp increase in bunker prices.”
Most carriers last week announced they were imposing emergency …

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Source: The Loadstar