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French-based CMA CGM, one of the world’s largest container lines, reported on Friday a net profit of $7.0 billion for the third quarter, up from $5.6 billion in the year-earlier period.
However, the net profit was down from $7.6 billion in the previous quarter, while core earnings also fell slightly from the second quarter, with CMA CGM noting an easing in spot freight rates as shipping demand softened.
