OceanX radar: It's the stupid economy! 3PLs rake it in vs Shopify's losses
Not entirely sure this all adds up…
JEFFERIES released a K+N note on Thursday ahead of Q2 ’20 results.
Here are the key points:
– “2Q20E results on July 21st. We estimate 2Q20E EBIT will be 43% lower at CHF 153m, in-line with consensus CHF 154m. We project sea freight EBIT fell 41% to CHF 73m, driven by a volume decline of 10%-15%, outperforming an estimated 15%-20% lower market, in-line with Maersk’s increased guidance, and a 5% lower yield, due to negative FX and a deteriorating mix, due to ...
More blank sailings on the cards as ocean spot rates continue to tumble
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