News / Scrapping not enough to halt rates slide – 'stop ordering so many new ships'

20/07/2016

The world’s container shipping lines have been scrapping and laying-up increasing numbers of vessels to contain a freight rate slide as the trade enters its traditional peak season.

Weak peak season demand is forcing carriers to curtail capacity, especially on the transpacific trade, according to data ...

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OldShippingSoul
July 21, 2016 at 5:07 am
This is probably the only industry in the world that operates a business to incur losses. Billions and billions of dollars, freely given to the importers/exporters, who are laughing themselves to the bank! Yet, they continue to survive, stay afloat (pun intended), and fight for market share! At any other given organization, the top executives would be packed and shipped out.

Leaders had very little foresight on the state of the world economy. These big ships are like dinosaurs and the big banks.

Serves them right.

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