Subscribe to RSS feedCMA CGM is prepared to forfeit newbuild deposits
by
Janet Porter, London
—
last modified
May 17, 2010 10:08 AM
CMA CGM is prepared to walk away from some of its newbuilding orders as it cleans up its balance sheet and brings in new investors.
The French line revealed this extreme action after it reported a loss of US$1.4bn for 2009, which compared with a 2008 profit of US$124m.
For the last few months, the world’s third largest ocean carrier has been trading in the...
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