CMA CGM sees its China shipping capacity back to normal from mid-March

Paris - French shipping group CMA CGM said on Friday, 6 Feb, that its activity in China was getting back to normal after the coronavirus outbreak disrupted traffic last month and that the shipping sector should see a rebound in the next quarter. 

CMA CGM, the world’s fourth-largest container shipping firm, expects to return to normal fleet capacity in China from mid-March, it said in a results statement. 

The group posted a net loss of $229 million for 2019, compared with a $34 million profit the previous year, citing the effects of an accounting rule change and the acquisition of loss-making Swiss firm CEVA Logistics. 

It also announced the renewal of $535 million in credit lines that had been due to expire this year and which would now run to 2023.