Prices have more than doubled since the war started, and with fuel comprising almost 30% of operating expenses, the Hong Kong-based carrier has been forced to reduce capacity.
The railroads say they plan to file an updated merger application on April 30, addressing many of the complaints that caused regulators to deem their original application “incomplete.”
As if the Strait of Hormuz and Red Sea haven’t caused enough concern for commercial shipping, Lars Jensen warns of the potential for weather-related disruptions once again at the canal by year-end.
