Trump-Houthis deal – expect further 'rate declines...after port congestion'
Ocean: supply-demand balance getting ‘structurally looser’?
Yang Ming’s management said at its AGM today that oversupply in container shipping is expected to worsen.
U-turning from an optimistic position in March, Yang Ming president Patrick Tu Shu-chin blamed geopolitics, inflation and massive newbuild deliveries.
Mr Tu was speaking a fortnight after Yang Ming disclosed that Q1 23 net profit plunged to $112m, a situation confronting all its peers as cargo volumes and Covid-19-related port congestion ease off.
Mr Tu said: “We believe that as supply chain bottlenecks are gradually alleviated, ...
Volume surge and an early peak season? 'Don't celebrate too soon,' warning
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