China’s decision to kill off the proposed P3 network is good news for listed containership lessors, a leading analyst says.
Ben Nolan of Stifel explains Beijing’s rejection of the Maersk Line, CMA CGM and MSC alliance means the tide may begin to turn in favour of the containership leasing companies.
“We believe the stoppage of the P3 alliance removes a major potential headwind for containership lessors, particularly those with older capacity between 1,500 and 5,500 teu,” Nolan wrote in a report today.
