Financial meltdown ruining profits at containership lines

(BRUSSELS) — The credit-market meltdown is hurting container shipping lines, the Wall Street Journal reported. Cargo rates are tumbling, to a point that is unsustainable, according to the chief executive of A.P. Moeller Maersk. Declining demand is hurting business in shipping lanes including the U.S.-Asia trade.
Click here to view the Journal’s story.
By Professional Mariner Staff