Containers of Danish shipping and logistics company Maersk
2024-06-27 657词 中等
On the surface, the answer should be: not long at all. Historically, value destruction has been the industry norm. Bernstein, a broker, reckons that between 2002 and 2019 shipping firms’ average return on capital of 4.7% trailed in the wake of its cost of capital, which averaged 10% or so. New ships take a couple of years to build. According to bimco, an industry association, in 2023 the global fleet added capacity of around 2.3m 20-foot equivalent units (the standard measure of container size), surpassing the previous annual record by 37%. Another 1m arrived in the first four months of 2024. In February worries about overcapacity led A.P Moller-Maersk, the world’s second-largest shipping line, to warn it could lose up to $5bn this year.
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