Container line profits this year will be wiped out by rising fuel and charter prices

A leading shipping analyst has drastically cut its 2018 ocean carrier profitability forecast from $5bn to “breakeven at best”.
In a new research note published this morning, Drewry claims “carriers’ lack of control has come back to bite them this year”.
A surge in oil prices destroyed their profitability in the first quarter, which followed a return to the black last year with around $7bn of net profit.
This year, according to the cumulative losses …

The post Container line profits this year will be wiped out by rising fuel and charter prices appeared first on The Loadstar.

Source: The Loadstar

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