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.


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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

Ane Uggla calls for policymakers to act on CO2 emissions

Ane Uggla, chair of the A.P. Moller Foundation, which is behind the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, calls for political action regarding CO2 emissions a few weeks before the next meeting in the IMO’s climate committee, MEPC.

Further reading

Related articles

Latest news

See all jobs