Comment / Box lines - billions ready to burn in market share fights

It's Covid time all over again for container shipping, folks?

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* on whatever trade lane.