Asian exporters scramble for ships and boxes to beat 90-day tariff pause
With the 90-day moratorium on additional tariffs on all US imports, except those from China, ...
By Mike Wackett
The rate of diminishing ocean carrier profitability is accelerating as east-west tradelanes continue to suffer from soft demand resulting in stubbornly low freight rates.
Japanese ocean carrier ONE saw its net profit more than halve to $513m between April and June (its Q1), compared with the first three months of the year.
“East-west routes suffered a fall in demand due to stagnant retail consumption in Europe and the US as a result of high interest rates and inflation,” said ONE.
CEO Jeremy Nixon ...
Comment on this article