Shipping line fortunes may be looking up after a dire fourth quarter
The last three months of 2023 were some of the worst for liner shipping’s finances ...
China’s second largest boxship line, China Shipping Container Lines, has announced a net loss of $431m, following weak demand and overcapacity. However, it said it expected volumes to rise 4.4% this year – although whether that can translate into profit will depend on its ability to hold rates. It was a better week for ports, however. China ports operator Cosco Pacific, boosted by the sale of its 21% stake in China International Marine Containers for $393m, reported a rise in earnings to $702.7m and announced plans to look for new port acquisitions. And Singapore-headquartered terminal operator PSA announced a net profit of $1.13bn.
MSC Aries now bound for Iran, and crisis will be 'a catalyst for higher rates'
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Hong Kong drops out of world's top 10 busiest container ports
Iranian troops seize MSC box ship while Somali pirates net $5m ransom for bulker
Flexport is 'back on track' – now it needs to start growing again
Bottlenecks and price hikes as airlines now avoid Iran airspace
Capture of MSC Aries will further drive up Indian export costs
Iran may now pose a threat to multimodal supply chains via Dubai
Alex Lennane
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During August 2023, please contact
Alex Whiteman
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Alessandro Pasetti
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