Congestion fear as US west coast ports brace for transpacific cargo surge
The demand spike on the transpacific has prompted concerns of congestion and cargo bottlenecks at ...
The outlook for ocean carriers is a sharp decline in earnings this year, as average freight rates fall and inflation drives cost increases hitting bottom lines.
Last week, both CMA CGM and Hapag-Lloyd posted record results for 2022 and warned that this year would be very different.
On Friday, CMA CGM reported a net profit of $24.9bn for last year, but said there had been a “marked slowdown” in the fourth quarter that was expected to continue in 2023.
The group saw a ...
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