The shipowner CMA CGM responds to the call of the French government and lowers its prices

CMA CGM recorded nearly $18 billion in profits in 2021. AFP - SAMEER AL-DOUMY

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What can be done to support the purchasing power of French households when inflation has accelerated further, to 5.8% in June?

Opposed to new taxes, the government does not want to overtax large companies that have been profitable during the crisis.

So he asks them to make a move.

Responding to this call, one of the world leaders in maritime transport, CMA CGM, announced that it was lowering its rates to its customers.

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The reductions granted by CMA CGM range from 10% to 20%.

They represent 500 euros per container and concern all goods imported via French ports. 

The measure, which applies from August 1 and for a period of one year, should have an impact on the prices of products sold by major retailers across France.

$18 billion in profits in 2021

CMA CGM is one, along with TotalEnergies and Engie, of the companies that have seen their profits grow against the backdrop of a pandemic, a chaotic recovery, then the Russian invasion of Ukraine.

The shipowner alone recorded nearly $18 billion in profits in 2021. And in the first quarter of 2022, it has already made a net profit of more than $7 billion.

The government has called on those companies that have seen their profits inflated by the crisis to return part of these profits to households in order to mitigate the effects of inflation. 

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  • France

  • Transportation

  • Economic crisis

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