By raising its rates, China Shipping Container Lines (CSCL) will boost earnings, predicted Li Shaode, the chairman of Asia's second-largest container line, adding that his profits will surpass the CYN3.18 billion (US$430 million) expected, reported Bloomberg.
"Fewer empty boxes help cut costs on US routes," said Mr Li.
China Shipping raised rates for shipments from Europe to Asia by $500 a container in October. Also helping is the low dollar that boosts US exports that fill eastbound boxes, which mostly return empty to Asia, he said. |
