Hapag-Lloyd Cuts as Rate Rises Prove a Better Quarter Isn’t Good Enough — Panjiva


Hapag-Lloyd Cuts as Rate Rises Prove a Better Quarter Isn’t Good Enough

Corp - Shipping 608 Earnings 365 Energy - Bunker Fuel 63 Global 722 Mode - Containerized 1005 Mode - Seaborne 1273 Theme - Rates 141

Container shipping rates improved during the second quarter, but that may do little to help the reported profitability of the container-lines. A 6% increase in China-outbound rates at the end of the second quarter from the beginning was the result of a series of aggressive, “emergency” rate rises by the liners that were kicked-off by MSC in mid-May. Yet average rates for the quarter fell 6% on a year earlier. Intra-asia rates did best (in part due to strong trade activity) while Transpacific routes were largely unchanged. The latter routes face the threat of a U.S.-China trade tariff bat...

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