https://www.cnn.com/2023/11/03/business/maersk-layoffs-shipping-boom-bust/index.html
Composite cost to ship 40’ container on eight major global routes is about $1406, huge drop from the past several years.
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Thanks for the news item.
Made this observation a few days ago–
"Been a whole year since rates started declining. Still surprised that there has not been a significant event from any of the major liner companies. Or perhaps, it is happening e.g. via blank sailings, and the companies are careful how the news development is mentioned "
So it IS happening.
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From Maersk’s Q3 presentation-
https://investor.maersk.com/static-files/53cae4b1-6458-44d6-b871-9ad9ee20a388
Always nice to see the numbers broken down. Slide 26
Ocean - that’s the vessel side - revenue declined 56% (Ouch!)
Maersk share price peaked in early 2022, and is now around 65% off the peak levels. Probably less uncertainty than Covid, but still, probably still a lot of uncertainty. Likely share-price still has room to fall - current price around $7.31 (Covid low was about -50% lower).