A series of analyst reports over the last week from Xeneta, HSBC Global Research, and Sea-Intelligence present a downbeat picture ahead for container shipping with overcapacity leaving carriers subsidising shippers on key routes.
At the beginning of October it was full speed ahead for Greek shipowners renewing their fleets with newbuilding orders up 40 - 50% over the past 12 months.
PSA Singapore and Pacific International Lines (PIL) have inked Memorandum of Understanding to develop low carbon pathways including shipping routes.
Ocean Network Express (ONE) has forecast a profit of $851 million for the year ended 31 March 2024, down some $14.1 billion on the previous year.