CMA CGM has become the latest liner operator to unveil a hefty loss in the first quarter of the year.

The French containership player reported a consolidated net loss of $43m for the first three months of 2019, compared with a loss of $77m in the previous corresponding period.

But the Marseilles-based company has shrugged off the loss by unveiling a turnaround plan designed to make cost- savings of $1.5