CMA CGM sees shipping bottom out in Q2 after demand plunge

CMA CGM expects activity in the shipping sector to bottom out during the second quarter as countries emerge from lockdowns to curb a coronavirus epidemic and ship operators adjust capacity

A crew member goes on board of the container ship CMA CGM Alexander von Humboldt

Paris - CMA CGM expects activity in the shipping sector to bottom out during the second quarter as countries emerge from lockdowns to curb a coronavirus epidemic and ship operators adjust capacity, the group’s finance chief said.
 
French-based CMA CGM, the world’s fourth-largest container shipping line, was anticipating a 15% year-on-year drop in its volumes in the second quarter, after a 4.6% decline in the first quarter, Chief Financial Officer Michel Sirat said. 
 
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