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Drewry: Container market hit bottom with Hanjin default

The collapse of Hanjin Shipping marked the culmination of the multiple-year container crisis, notes Drewry and points to an overall better second half of the year for the container sector. However, the analyst firm still projects a massive 2016 loss for the sector.

Photo: Zim Integrated Shipping Services

The comprehensive downturn in the container sector reached its nadir with collapse of Hanjin Shipping's collapse and subsequent court receivership, writes analyst firm Drewry in its report Container Forecaster and Review 2016/17 in which the firm points to improved developments in the latter six months of the year after otherwise disappointing half-year results from the leading container carriers.

While the carriers still seem to be on track for a combined deficit of more than USD 5 billion for 2016, Drewry notes that the hard-pressed container players could start making money again in 2017.

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