CMA CGM vice chairman Rodolphe Saade has warned that another Hanjin Shipping bankruptcy could happen if shippers persist in pushing for the lowest possible price.
Container line SITC International Holdings saw total volume rise 4.5% to 1.7m teu in the first nine months compared to 1.6m teu in the previous corresponding period.
A gradual recovery for the container shipping market can be expected after the demise of Hanjin Shipping, despite continuing concerns of weak trade growth and tonnage oversupply, according to shipping consultancy Drewry.
Dry bulk shipowner Pacific Basin has reported that their daily time-charter earnings (TCE) for supramaxes and handysizes have outperformed the freight market indices during the third quarter.
Denmark’s shipping conglomerate AP Moller-Maersk saw its first half profit plunged 87% year-on-year to $342m, impacted mainly by lower container freight rates and oil prices.
Hapag-Lloyd has issued a profit warning for 2016 on the same day it inked its merger deal with United Arab Shipping Co (UASC).
As the world got used to the idea of a European Union, sans Britain, the freight market appeared to sail defiantly onwards.
The pressurised LPG shipping market is continuing to “bounce along the bottom” amid an oversupply of tonnage and a further sliding of rates for smaller and older ships in the past 12 months, according to Epic Gas.
Intra-Asia carrier SITC International Holdings has shipped higher volumes in the first quarter of 2016 over the year-ago period, but earnings dipped due to lower freight rates.