Carriers get benefit of the doubt on charges of profiteering from the crisis

July 7, 2020 Mike Wackett

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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