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The level of escalation in blanked capacity illustrates a dramatic change in the market.

"Carriers (shipping lines and airlines alike) will need to rethink their strategies and business models."

Shipping lines covered do not include MSC (privately held), PIL and CMA CGM (no longer publicly publishes EBIT).

Trade outlook closely intertwined with geopolitics; most believe more U.S. tariffs to follow but not sure how much.

After almost eight years of steady alliances, industry set for a recast - new alliances, new targets and new routes.

Gemini Cooperation, the Maersk-Hapag alliance that goes operational on Feb 1, will be phasing in via Cape of Good Hope

Carriers will be wary that they could be at risk if the Houthis deem their voyages to have any connection with Israel.

Freight rates from Shanghai to Genoa zoomed 21% to $4,399/FEU and from Shanghai to Rotterdam surged 16% to $3,954/FEU.

Maersk now expects underlying EBITDA of $11-11.5 billion and EBIT of $5.2-5.7 billion for 2024.

Ocean Alliance will cancel 24 sailings, THE Alliance 16, 2M Alliance 16 and non-alliance carriers 34 sailings.

IACI is a volume-weighted index of spot container freight rates on 18 large intra-Asia trade lanes.

Manufacturers are reporting full order books until mid-October