Cost of price war by ocean carriers could have funded 18 space missions
2012 03 14
- Details
SEAINTEL Maritime Analysis says the cost of the recent carrier price war from mid-2010 to 2012 was US$11.4 billion, enough to fund 18 space missions.
"Given this cost, it is certainly evident why carriers are now seeking rate increases," said SeaIntel founder Lars Jensen.
"Rate increases on Asia-Europe in March and April will [only] bring rates back to the level before the price war started, however the total increases announced by the TSA on the transpacific trade would raise rates beyond the downturn caused by the price war," he said.
Source Shipping Gazette - Daily Shipping News
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