Carrier results drop to pre-pandemic levels
All major shipping lines that report on their financial figures have recorded sharp Y/Y revenue drops in 2023-Q3. In fact, the smallest contraction was of -51.8%. While this does sound alarming, we have to remember that the Y/Y comparison is against a period of high rates.
To counter this volatility, we instead compare 2023-Q3 against 2019 on an annualised basis and see that the
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