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SeaIntel: Container rates disastrous for the shipping companies

The latest numbers for the Asia rates are “disastrous” for the shipping companies, says SeaIntel. This includes Maersk Line, which has lost a significantly bigger market share than the industry in general. 2013 could look really bad.

Photo: Maersk Line

Analysis bureau SeaIntel calls the rate development numbers for Asia and Europe – released on Friday November 9th – “disastrous” for the major container shipping companies, including Maersk Line, which announced its financial statements - deemed fair by analysts - on the same day. But according to CEO and partner at SeaIntel, Lars Jensen, the one-week dive of 7.2 percent on the rates between Asia and Europe, and almost ten percent from Asia to the Mediterranean, shows that the shipping companies are far from capable of maintaining the important financial discipline.

The discipline is gone

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