They are realistic enough not to mention increasing rates, as the idiots in the TSA keep harping on. Of course it's true it would be nice if the rates went up enough to cover costs. Talk to the airlines about that problem.
The lowest cost operator will be the winner!
This from American Shipper
Hamburg Süd said in the first quarter "average revenues have fallen around 20 percent since the peaks reached in mid-2008. This is due not only to falling bunker surcharges," the company said in a statement Monday. "In some trade lanes freight rates are being quoted which do not even guarantee full coverage of the variables, not to mention making a contribution to fixed costs. The volume- and rate- related drops in revenue are only partly being offset by lower bunker and charter costs."
Hamburg Süd Group said liner volume in 2008 was up 25 percent in
2008 to 2.7 million TEUs. Results also included those of its Brazilian sister company Aliança Navegaçao é Logistica Ltda., the tramp operations of Rudolf A. Oetker and Furness Withy Chartering
The company noted turnover grew 24 percent from 3.6 billion euros in 2007 to just shy of 4.5 billion euros in 2008, It said about 15 percent of that was due to organic growth and 9 percent to the acquisition of Costa Container Lines in late 2007.
To counter a substantial decline in cargo volumes, Hamburg Süd said it has laid up ships and streamlined services