After better-than-expected first-quarter results, ocean carriers have upgraded their financial guidance, despite the impact of the pandemic.
However, they are being accused in some industry circles of “profiteering from the crisis”.
Container spot rates have soared on the major tradelanes as aggressive carrier capacity management strategies have kept space tight, which, coupled with a collapse in the price of bunker fuel, is driving liner profitability.
On the accusations, Drewry said that, “given the …

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Source: The Loadstar