Container carriers have hit a new low point
Throughout 2016 average freight rates were lower than in 2009, remembered as a year of horror within the industry. Preliminary figures from two container carriers point to the worst second quarter in history ahead of the report season.
BY OLE ANDERSEN
German Hapag-Lloyd's recent downgrade and the latest figures from Hong-Kong based Orient Overseas Container Lines (OOCL) cast a sense of foreboding over the upcoming release of second quarter reports from the remaining industry players over the next few weeks. On August 12th, Maersk Line will publish its interim report for the first half of the year, where the months of April to June echoed the worst quarter in recent memory in the struggling container sector.
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