Blanked sailings in response to falling demand 'just a stop-gap solution'
Blanked sailings are only a “stop-gap solution” for carriers amid critical tonnage oversupply, according to ...
Photo: © Timon Schneider Dreamstime.com
China International Marine Containers (CIMC) has reported net profits and sales plummeted over the first nine months of the year.
The world’s largest container manufacturer said net profit fell 65%, year on year, to $437.31m, while sales of dry containers dropped 47%, to 1.01m teu, and reefer sales were down 22%, to just over 100,000 teu.
CIMC blamed a slowdown in the global economy, as well as falling consumer demand in the west for China’s exports causing the decline in container shipping ...
Comment on this article