French shipping company, CMA CGM, has reported a 94.5 per cent drop in net income in the third quarter of 2023. The shipping company in its recent report on Monday, titled, ‘Third quarter 2023 financial report’, sighted by The PUNCH, said that it revenue within the period under review, stood at $11.4bn. CMA CGM is the third largest container shipping company in the world, and it also brings goods to Nigeria. The company recorded a net income of $7,039bn while in the same period in 2023; the company had $388m. CMA CGM said it is undergoing a gradual rebalancing of contributions from the group’s maritime shipping and logistics businesses.

Source: Punch November 14, 2023 15:31 UTC