ShippingWatch

Fitch: Container industry back on its feet in 2014 at the earliest

The container industry will not see a complete return to a sustainable level of business before 2014, estimates the credit ratings agency Fitch, writes Journal of Commerce.

Photo: APM Terminals

The credit rating agency Fitch has stated that the container industry will be seeing healthy balances again in 2014 at the earliest. The statement follows the French company CMA CGM’s publication of their financial report for the first quarter. CMA CGM lost $248 million in the first quarter, which Fitch views as a sign that container companies have begun exploiting a more rational approach to price fixing of the container market, writes Journal of Commerce.

At the same time, Fitch concludes that the loss in CMA CGM’s first quarter is also an example of how far the industry will have to go before a complete return to healthy balances. A return sooner than 2014 has been ruled out.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Product Tankers expects 2022 to be "not an amazing year"

There’s no doubt that 2021 was a miserable year for the global tanker industry. But 2022 could end up strong, many parties say. Maersk Product Tankers is more doubtful. ”2022 won’t be an amazing year,” CEO Christian M. Ingerslev tells ShippingWatch.

Researcher criticizes TotalEnergies' fuel report

TotalEnergies ignores shipping’s climate adaptions in the company’s prognosis for shipping’s future fuel consumption, researcher says in criticism. Among other things, TotalEnergies supports LNG.

OOCL doubles revenue despite significant drop in volumes

Container line OOCL, owned by China’s Cosco, doubled its revenue in 2021, with the top line for Q4 alone surging by 101.4 percent, the carrier says. This major increase happens despite a dive in container liftings during the quarter.

Related articles

Latest news

See all jobs