News / Liners are not hoarding capacity, assures Evergreen, as Q1 profits triple

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Evergreen general manager Wu Kuang Hui has hit back at speculation that liner operators are hoarding capacity to drive up rates.

At a shareholder meeting on Tuesday, he said: “In this current market, there’s no reason for operators to hide capacity.

“Long-term contractual commitments for our transpacific services have reached 50%. As the market’s effective shipping capacity decreases, Evergreen will continue to adjust its fleet and improve operational resilience to cope.”

The carrier’s Q1 24 ...