The container industry is about to release a string of interim reports which all look set to be severely impacted by the historically low rates and far too many ships sailing the world seas with far too few containers on board.
Especially global trade's main tradelane from Asia to Europe has been plagued by the low and still-declining rates noted in recent months, in which even the carriers' coordinated attempts at raising the rates and idling ships for weeks were unable to improve the situation. First out of the gate was Maersk Line, as the carrier on Friday last week had to capitulate and lower its projected full-year underlying result for 2015 by no less than USD 600 million, and now one of the world's other major container carriers, Dubai-based United Arab Shipping Company, UASC, is following suit.
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