Thai regional box carrier Regional Container Lines (RCL), seeing falling profits, has stepped up the demolition of its elderly tonnage. This month, with container freight rates still under pressure, RCL said its net profit for Q2 23 was down 37% year on year, to THB576m ($16.33m).
Q2 Revenue Decline- The average revenue in Q2 dropped from $394 per teu in Q1 23 to $353, driven by high competition after the market returned to the post-pandemic ‘normal’, with lower...
https://mfame.guru/rcl-offloads-aging-container-ships-for-scrap-during-earnings-decline/