4 ms·

Cry me a river. CMA-CGM has made 40 billion € of profit in the past three years. I suppose Maersk and other large shipping companies are on the same boat (uh uh

by wazoox 3y ago

Cry me a river. CMA-CGM has made 40 billion € of profit in the past three years. I suppose Maersk and other large shipping companies are on the same boat (uh uh).

mschuster91 3y ago
> CMA-CGM has made 40 billion € of profit in the past three years. And it seems like they didn't do the responsible thing and set it aside in a rainy-day fund, but instead they and their competitors went on a shopping spree. Honestly, the way things have went in the past, I'd say a maximum of three years before the first one whines and calls for government subsidies.
- sixstringtheory 3y ago
  What'd they purchase? It's arguably better for some of that money to continue circulating in the economy vs being parked in investments and savings that essentially create money out of nothing, accruing interest or profiting from speculation. Of course it does make sense to do that with a portion, perhaps, but I wouldn't say "all". And I do share your disdain with government bailouts.
  - mschuster91 3y ago
    > What'd they purchase? Quite a lot (and barely anything of that is mentioned in Wikipedia): - 2023: Bollore Logistic, 5 billion € / https://www.dvz.de/rubriken/logistik/detail/news/cma-cgm-gibt-uebernahmeangebot-fuer-bollore-logistics-ab.html https://www.dvz.de/rubriken/logistik/detail/news/cma-cgm-gib... - 2022: GEFCO, .5 billion € / https://trans.info/de/cma-cgm-logistiker-284312 https://trans.info/de/cma-cgm-logistiker-284312 - 2022: Spedag Interfreight, unknown price / https://trans.info/de/cma-cgm-ceva-logistik-296514 https://trans.info/de/cma-cgm-ceva-logistik-296514 - 2022: Colis Prive, unknown price / https://www.dvz.de/rubriken/see/detail/news/cma-cgm-investiert-in-die-letzte-meile.html https://www.dvz.de/rubriken/see/detail/news/cma-cgm-investie... - 2022: 9% of Air France KLM, .25 billion dollars / https://simpleflying.com/air-france-klm-cma-cgm-partnership/ https://simpleflying.com/air-france-klm-cma-cgm-partnership/ - 2021: Ingram Micro, 3 billion dollars / https://www.dvz.de/rubriken/see/detail/news/cma-cgm-kauft-kontraktlogistiker-ingram-micro.html https://www.dvz.de/rubriken/see/detail/news/cma-cgm-kauft-ko... And their competition hasn't been sleeping either, there has been a wave of consolidation and acquisitions.

by wazoox 3y ago

Cry me a river. CMA-CGM has made 40 billion € of profit in the past three years. I suppose Maersk and other large shipping companies are on the same boat (uh uh).

mschuster91 3y ago

> CMA-CGM has made 40 billion € of profit in the past three years. And it seems like they didn't do the responsible thing and set it aside in a rainy-day fund, but instead they and their competitors went on a shopping spree. Honestly, the way things have went in the past, I'd say a maximum of three years before the first one whines and calls for government subsidies.

sixstringtheory 3y ago
What'd they purchase? It's arguably better for some of that money to continue circulating in the economy vs being parked in investments and savings that essentially create money out of nothing, accruing interest or profiting from speculation. Of course it does make sense to do that with a portion, perhaps, but I wouldn't say "all". And I do share your disdain with government bailouts.
- mschuster91 3y ago
  > What'd they purchase? Quite a lot (and barely anything of that is mentioned in Wikipedia): - 2023: Bollore Logistic, 5 billion € / https://www.dvz.de/rubriken/logistik/detail/news/cma-cgm-gibt-uebernahmeangebot-fuer-bollore-logistics-ab.html https://www.dvz.de/rubriken/logistik/detail/news/cma-cgm-gib... - 2022: GEFCO, .5 billion € / https://trans.info/de/cma-cgm-logistiker-284312 https://trans.info/de/cma-cgm-logistiker-284312 - 2022: Spedag Interfreight, unknown price / https://trans.info/de/cma-cgm-ceva-logistik-296514 https://trans.info/de/cma-cgm-ceva-logistik-296514 - 2022: Colis Prive, unknown price / https://www.dvz.de/rubriken/see/detail/news/cma-cgm-investiert-in-die-letzte-meile.html https://www.dvz.de/rubriken/see/detail/news/cma-cgm-investie... - 2022: 9% of Air France KLM, .25 billion dollars / https://simpleflying.com/air-france-klm-cma-cgm-partnership/ https://simpleflying.com/air-france-klm-cma-cgm-partnership/ - 2021: Ingram Micro, 3 billion dollars / https://www.dvz.de/rubriken/see/detail/news/cma-cgm-kauft-kontraktlogistiker-ingram-micro.html https://www.dvz.de/rubriken/see/detail/news/cma-cgm-kauft-ko... And their competition hasn't been sleeping either, there has been a wave of consolidation and acquisitions.