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Container line giant AP Moller-Maersk is factoring in Red Sea disruption to last for up to a year. But even the positive effects of longer voyages around South Africa will not save the sector from an influx of newbuildings putting pressure on freight rates.
The group would have expected a loss for this period without ship rerouting, but is now close to breakeven, chief executive Vincent Clerc said as the company released its earnings.
