MPC's nightmare summer has transformed into the best market in years

Shipowner MPC Container Ships has experienced a significant transformation of the container market, in which a crisis plan in a nightmare summer has been replaced by doubling rates and the best market in years, CEO tells ShippingWatch.

Photo: PR-FOTO

During 2020 the container market has shown several faces to MPC Container Ships, but in recent weeks the arrow has pointed in one way only.

This summer, a market in the doldrums required a large crisis plan from the shipowner to prevent a fire sale of ships and ultimately a risk of bankruptcy. Through a deal with its creditors in July, however, MPC was able to keep its fleet.

Read the whole article

Get 14 days free access.
No credit card required.

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

Employee at Bunker Holding subsidiary charged for alleged corruption

A trader at KPI Oceanconnect, a subsidiary of Bunker Holding, has been charged with alleged corruption totaling at least USD 191,250 as rewards for nominating Straits for the supply of bunker fuel to KPI's customers. The employee has been suspended and his contract terminated, the company informs ShippingWatch.

Freight rates for furniture eat up almost entire profit

The price of shipping a 40-foot container with assembled furniture from Asia to the US West Coast is currently so high that freight rates make up almost 100 percent of the furniture's retail value, according to Sea-Intelligence.

Wallem Group appoints new CEO

Wallem Group appoints interim CEO since January 2021 as the new chief executive officer of the ship management company.

Further reading

Related articles

Trial banner

Latest news

See all jobs