Real test of Gemini hub and spoke model yet to come, says Maersk
Early signs may be positive for the Gemini Cooperation’s “hub and spoke” model, but head ...
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By Mike Wackett
“Once again the announced freight rate increases could not be implemented,” said German ocean carrier Hapag-Lloyd today as it posted another set of disappointing results for its liner business.
The line had failed to get general rate increases between Asia and Europe, totalling more than $3,000 per teu this year, to stick.
By the half-year stage, Hapag-Lloyd had increased its liftings by 6% over the first six months of 2013, to 2.87m teu, but turnover declined to €3.2bn from €3.4bn the year before, ...
Comment on this article
Ricky Forman
August 12, 2014 at 3:04 pmIt makes me wonder if Carriers enjoy banging their head against a brick wall. Declining freight rates are no longer a valid excuse for poor financial performance anymore. All Carriers should be hedging their spot exposure on the most volatile trade routes. Some would argue their inability to manage risk amounts to financial negligence.
The sooner Carriers and their investors realise this fact the quicker the industry can recover.