Ahead of Hapag-Lloyd’s 2023 annual report tomorrow, there is significant interest in the carrier’s provisional assessment of its first-quarter earnings, in light of the Red Sea diversions.
Credit rating agency Fitch says the short-term profitability of ocean carriers “will benefit from increased freight rates, which exceed the cost of re-routing”.
It added: “The recent container rate hikes exceed the additional costs of re-routing and will boost near-term profitability for container shipping companies …
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