- Ocean carriers scramble to reduce costs due to plummeting demand for liner services.
- The next major reason cited is the off-hiring of chartered tonnage.
- Carriers withdraw up to 20% of their network capacity on the main tradelanes.
A recently published article in The LoadStar, written by Mike Wackett, highlights the reduction of fleet capacity by on time charters by major shipping giants like Hapag-Lloyd,Alphaliner and MSC.
Hapag-Lloyd’s relatively less chartered fleetHapag-Lloyd chief executive...
https://mfame.guru/container-charter-market-nosedives-from-boom-to-bust/