MISC predicts further slowdown

摘要

Kuala Lumpur-based MISC is expecting its box business to post a further slowdown in the second half of this year. In announcing its Q1 08 results (April-end-June period), management pointed to the 'global economic slowdown and excess shipping capacity as having an impact on its results', a situation it thinks will not change dramatically during the rest of 2008. Moreover, the company's official statement said that escalating operating costs, especially bunkers, could adversely impact its short term performance. Niels Kim Balling, vp of liner business, told CI: 'High bunker prices are a great challenge to every ocean carrier. 'While we recover some of the increases through BAFs, if this situation continues and the global economy slows down further, then excess capacity will be a challenge for everyone. We could even see some ships being laid up.'