CMA CGM shipping revenue up 36% amidst profit slide
France’s CMA CGM, the world’s third-largest ocean carrier, has managed to aquire over billion a quarter net profits per container.
CEO Rodolphe Saade said Friday that “performance remains robust” despite “difficult market conditions” amid “further normalization” of shipping rates.
California ports recieve over $700M in federal grants
The state of California awarded several ports millions of dollars in grants to improve the movements of goods in supply chains, according to multiple port press releases in July.
The Port of Oakland received $119 million, the Port of Long Beach $383 million and the Port of Los Angeles a total of $233 million from the California State Transportation Agency.
Read More Here Supply Chain Dive
Transportation delays forve Volkswagen to lower delivery target
In a July 27 earnings report, Volkswagen lowered the target from 9.5 million automobiles to between 9 million and 9.5 million vehicles. The automaker said pressure was shifting from semiconductor shortages to transportation and logistics delays, although it also said that supply chain disruptions had eased during the second quarter of 2023. Overall, Volkswagen expects the cost of raw materials to decrease and logistics bottlenecks to lessen.
Read More Here Supply Chain Brain