CMA-CGM has received regulatory approval for its purchase of 25% of Ceva Logistics, raising the question as to the strategic justification for the purchase. The container-line has seen a downturn in its profitability with its 1Q EBITDA margin falling to 5% from 8% a year earlier. Increasing the utilization of its vessels, which already saw a 12% surge in U.S. inbound volumes in the second quarter on a year earlier, may be one option to help improve profitability. An increase in volumes directed by Ceva to CMA-CGM vessels is one option, but would likely need a pricing advantage for Ceva c...