Cargo Prices Increase Four Folds in Shipping Industry

A variation on that buy-low, sell-high strategy is exactly what some container shipowners are opting to do.
They are capitalizing on a hot ocean freight market that shows few signs of cooling off.
International Maritime Enterprises, based in Monaco, agreed to sell the container ship Crete I for $46 million.
It is more than four times the $11 million price tag it spent for the 12-year-old vessel in November 2016, TradeWinds reported on Wednesday, citing industry brokers.

A recent news article...