It’s Covid time all over again for container shipping, folks?
You bet.
Financially, at least.
Let’s count the billions then, fully aware of hefty margins for an asset-heavy-historically-highly-cyclical segment of the trade, typically characterised by razor-thin profitability that is no more.
All that, steers the conversation to a lack of financial leverage, leading to overcapitalised balance sheets where one billion flows in after another, waiting to be deployed in the next freight rate war* …
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