'Cargo collision' expected as transpacific capacity tightens and rates rise
Transpacific shippers keen to take advantage of the 90-day tariff time-out are likely to be ...
© VanderWolfImages | Dreamstime.com - Container ship Antwerp
By Mike Wackett
After reporting a huge $7.1bn net profit for 2021, Orient Overseas (International) (OOIL) said that, due to the “uncertainty of market trends”, forecasting beyond the first half of this year had become “even more difficult”.
The Cosco Shipping subsidiary said on Friday the container shipping market “situation remains very similar to what we saw during 2021”, for its liner arm, OOCL.
“Demand still appears resilient and continuing congestion and disruption around the world mean that there is considerable pressure on available space ...
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