The recently-merged French shipping group CMA CGM predicted soaring
profits and cargo volumes for the year.
The net consolidated profit of CMA CGM Holding should increase by 57
percent this year, to FFr313 million ($50 million), from FFr199 million in 1998, the
shipping group said.
CMA CGM expects annual revenues of FFr9.55 billion ($1.52 billion) this
year, up 18 percent, and annual carryings of 1.35 million TEUs, also up by 18 percent.
The French carrier entered the Pacific trade in April and expanded its
Asia-Europe services earlier this year.
To accompany the expected rise in volumes, CMA CGM plans to increase
its fleet by 2001.
CMA CGM PREDICTS JUMP IN PROFITS, VOLUMES
CMA CGM PREDICTS JUMP IN PROFITS, VOLUMES
