Hamburg Sued Says Freight Rates Unlikely to Stabilize, FAZ Says
Hamburg Sued Says Freight Rates Unlikely to Stabilize, FAZ Says
By Niklas Magnusson
January 03, 2012 2:07 AM EST
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Hamburg Sued doesn’t expect freight rates for container shipping to stabilize this year, Frankfurter Allgemeine Zeitung reported today, citing an interview with Chief Executive Officer Ottmar Gast.
While capacity in the industry may increase 9 percent in 2012, cargo volumes probably will rise only 8 percent, Gast also told the newspaper.
To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net
To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net