Carrier revenues tumble in Q1

Deepsea shipping lines’ revenues dropped year-on-year by an average of 35% during the first quarter, according to analyst AXS Alphaliner. Research carried out by Alphaliner showed that the revenues of 11 carriers surveyed fell from US$22.4bn to $14.45bn. Of the 11 carriers, CSCL and Coscon were the hardest hit, with their revenues falling by 56% and 53% respectively.