News / Shipping lines seek higher rates as first quarter results come out

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The first raft of first quarter results has been emanating from container shipping line headquarters this week. If further demonstration of the sclerotic nature of today’s liner shipping market was needed, here it is.

This morning Maersk Line reported a $204m profit for the first three months of the year, a healthy comparison to the crippling $599m loss it suffered in the same period last year. This came despite a 4% decline in volumes, but the period saw a 4.7% increase ...