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CMA CGM Targets $1 Billion Savings in ‘Very Difficult’ Market

The CMA CGM Benjamin Franklin calls at the Port of Los Angeles, December 26, 2015. Photo: Port of Los AngelesPARIS, May 20 (Reuters) – France’s Cma Cgm, the world’s third-largest container shipping firm, reported a first-quarter net loss on Friday and targeted $1 billion in cost cuts to keep operating margins positive during the current market downturn. Weak freight rates in the past year have left many lines operating at a loss. The Marseille-based […]

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This post first appeared on GCaptain - Maritime News, please read the originial post: here

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CMA CGM Targets $1 Billion Savings in ‘Very Difficult’ Market

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