France’s CMA CGM, the world’s third largest container shipping group, reported revenues during the quarter ended June 30, 2012 of $4.149 billion, reflecting a 12-per-cent year-over-year increase. Volume increased 8 per cent to 2.7 million TEUs. The company reported net income for the period of $178 million.

During the second quarter, the company witnessed a clear improvement in the business environment with a very substantial upturn in freight rates, which allowed it to post operating savings of $294 million during the first six months of 2012. The company confirmed that its outlook is favourable, as a result of which it anticipates reporting a profit for the year as a whole.