To make matters worse, not only have carriers not made profits, they’ve found themselves burdened with enormous loads of debt and anemic rates of return. The problem is likely to get worse before it gets better. The Boston Consulting Group previously said that it anticipates a 30% increase...
“They will need to keep their vessels moving, especially to the U.S. and Europe, where empty 40ft containers are piling up. In comparison, Asia is grappling with a shortage,” he added. Ocean contract and spot rates on most trades were at record or near-record levels at the start of...