News / More bad news for carriers hoping rates decline has bottomed-out

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Ocean carriers are writing-off the first six months of this year, banking on a restocking demand boost in H2 to meet hugely downgraded full-year profit forecasts.

The spectacular financial results of carriers of the past two years have come to an abrupt end, with earnings for this year the subject of a harsh reality check.

The latest carrier to reveal the extent of the liner downturn is Israeli shipping line Zim, which said yesterday it expected to achieve an ebit of just $100m to ...