Container lines appear to be setting up for strong third-quarter cash flows thanks to the ongoing fallout from Hanjin Shipping’s bankruptcy, according to a report from credit rating agency Moody’s Investors Service.
Senior analyst Maria Maslovsky said in the report: "Hanjin's woes are occurring at a time traditionally considered the busiest time of the year for the industry.”
While Hanjin’s bankruptcy will have little impact on the larger oversupply issue hitting boxships, the temporary removal of Hanjin's ships from operation pushed up spot freight rates as other operators step in to plug the capacity gap, Maslovsky says.
Even
