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Merger-bound CSCL heralds massive deficit for 2015

Container carrier China Shipping Container Lines (CSCL) warns that 2015 will end with losses and impairments totaling more than USD 426 million.

Photo: Seanews.com

Chinese China Shipping Container Lines (CSCL) informs in a profit warning that the carrier expects a total deficit of about USD 426 million in 2015, with operational losses accounting for a majority of the deficit.

The slowdown in the global economy and the declining growth in China are the reasons cited by the carrier as the cause of the severe deficit in a sector which is characterized by record-low rates and a massive overcapacity of vessels.

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