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Saadé defends CEVA acquisition as central to CMA CGM's growth prospects

Head of CMA CGM says French group's high debt level is manageable and expects 2020 volumes to exceed those moved in 2019, now that China's exports are rapidly returning to normal

While acknowledging that he was concerned about the impact of coronavirus on the European and US economies, the CMA CGM chairman and chief executive Rodolphe Saadé said the fact that China trades are rebounding was a positive sign. Freight rates are expected to pick up in the second quarter and thereby absorb the negative impact of the virus outbreak on first quarter financials

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