Several of the world's largest liner shipping companies such as Maersk Line, Chinese Cosco, Hapag-Lloyd, Evergreen and a number of others are feeling the effects of increased fuel expenses combined with falling rates on their revenues.
The carriers basically need a much higher rate level to counter the growing costs of bunker oil, which as of April this year has increased by 5.2 percent, following the highest oil price in years. At the moment, bunker fuel prices are at the highest level of the past three years.
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