CMA-CGM reported headline revenue growth of 25.8% year over year in 3Q. That was flattered by the container-line’s first time consolidation of freight forwarder Ceva Logistics. Without the consolidation effect revenues fell by 3.0%, underperforming peers Maersk and Hapag-Lloyd which fell by 0.9% and rose by 6.9% respectively. A bigger issue for CMA-CGM is refinancing its purchase of Ceva. It will do that in part by selling port assets to the Terminal Link joint venture it has with China Merchants Ports. In turn such a transaction could trigger a CFIUS review, potentially requiring a sale...