CMA CGM welcome to new funds

PAYMENT of a first US$80m instalment on the US$500m cash facility it was promised by its banks before Christmas has given French container shipping group CMA CGM the breathing space it needed to hold on for payment of the remainder.

The group said it did not know precisely when the remainder of the bridging facility would be paid but that it was not unduly anxious as its operating results continued to improve.
Figures provided by a source indicate that the...

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