Houthi attacks have been a plus for shipping rates. The latest to benefit: Owners of container vessels that can be rented to shipping lines.
Container lines are pulling back fast from the ship-leasing market, signaling less confidence in future freight income.
Singapore stock exchange-listed ship lessor First Ship Lease reported essentially flat revenues for the third quarter of 2019, but it also announced a swing back into profit. A combination of higher revenues and cost cutting delivered the positive result.
It was a poorly-received IPO for CSSC Shipping. Institutional and retail take up was weak and its share price plummeted from the offer price.
