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.
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