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CMA CGM settles loan to acquire NOL but posts Q3 loss of US$268m

Nov 22,2016 by JC LOGISTICS GROUP

  FRENCH shipping giant CMA CGM has posted a third-quarter loss of $268 million, reversing a profit of $51 million a year earlier due mainly to lower volume and rates, IHS Media reported.

  Excluding expenses related to the company's September acquisition of Neptune Orient Lines (NOL), parent of APL, the container line's loss was $202 million, the third quarterly loss in a row.

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