News / Ocean carriers sail deeper into the red, pinning hopes on rate hikes next month

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From APL to Zim – for most ocean carriers that have reported, the first quarter of 2014 has been a financial disaster, with more than $1bn of red ink spilled so far in what appears to be yet another race to the bottom for container liner shipping.

There are exceptions, of course: Taiwan’s niche carrier Wan Hai turned a profit of $22m and the P3 network members, notably Maersk Line, will have operated in the black in the quarter.

However, despite Maersk, ...