Increased competition and vessel cascading on intra-Asia trades has led to rock-bottom freight rates and plunging profits for regional carriers.
Charlie Chu, executive vice president of Thai-based intra-Asia specialist Regional Container Line (RCL), said freight rates were declining every year.
“Ship upsizing in intra-Asia trade is quite popular, same as other trades globally,” he told The Loadstar.
“The consolidation between large carriers through M&A and alliances means they can easily launch...