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News ID: 72280 |
Publish Date: 10:08 - 13 February 2017
In 2017:

Sanity Is Returning to Shipping as Freight Rates Gain

The bankruptcy of South Korea’s Hanjin Shipping Co. and a consolidation in container shipping industry will pave the way for a better 2017 for the industry, according to Robbert van Trooijen, the Asia-Pacific chief of Maersk Line.

Sanity Is Returning to Shipping as Freight Rates Gain
After years of overcapacity and excessive optimism about demand, the order backlog for vessels is falling and Maersk Line is seeing a more balanced supply-demand situation for 2017 in its talks with customers, MANA correspondent reported.
Maersk Line, which expects to be profitable in 2017 after a $384 million loss it booked last year, expects the global container market to grow 2-4 percent amid the consolidation wave. 
Following Hanjin’s collapse, Japan’s three biggest shipping companies decided to merge their container operations, while Copenhagen-based Maersk agreed in December to buy Hamburg Sud. Freight rates are rebounding, van Trooijen said.
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