Pessimistic box lines cancel India-to-US GRIs and peak surcharges
Container lines seem to be giving up hope of raising freight rates for loads from ...
Geneva-based MSC chief executive Søren Toft (pictured below) must be rubbing his hands with glee.
In charge
With Mærsk, Toft’s previous employer, likely ending 2022 with a cash pile of at least $30bn* and smaller rival Hapag-Lloyd holding over, as disclosed yesterday, $10bn in cash and cash equivalents, the balance sheet of both totally unlevered – it’s certainly conceivable, with a fair margin of error, that MSC currently boasts minimum firepower of $25bn, base case.
(*As clearly emerged in a call with analysts ...
Comment on this article