CMA CGM on Tuesday became the largest container line to announce a restructuring in the face of the losses brought on by the biggest crisis to hit the industry. … CMA CGM has long been seen as one of the lines most vulnerable to a slump in traffic volumes and earnings – currently gripping the industry – due to its huge obligations to pay for ships ordered during the industry’s boom. … Tuesday’s statement said the company would continue with initiatives started this year to save money, including renegotiation and, in some cases, cancellation of ship deliveries.
