Analysis: breathing is harder for box lines as they climb higher debt mountains

The CMA CGM CHRISTOPHE COLOMB

I have been looking for signs that the container shipping industry is getting used to much higher debt levels than at any other time in recent history, and the latest financials of some of the largest players worldwide – including France’s CMA CGM and Germany’s Hapag-Lloyd – confirmed my first impression: it is really bad out there.

And 2017 will likely turn out to a pivotal year for many container lines and a major component of their supplier base, the non-operating shipowners.

CMA ...