French box ship operator CMA CGM posted weaker profits in its third quarter results on the back of higher fuel costs.
Profit in the third quarter was $103 million compared to $323 million in the same period a year ago.
The company said that its unit cost has risen "mainly due to the market price of fuel".
The higher unit cost, from $55 per twenty foot equivalent (teu) to $77 teu over the period, was only "partially offset" by bunker surcharges.
However, revenue over the period was up by 6% on a greater number of boxes shipped, according to the company.
