No one expected the "Great Shipping Crisis of 2021" — not even the liner operators that are making more than $150bn from it.
Carriers were blindsided as demand bounced back and freight rates skyrocketed.
Owners also profited from eye-watering charter rates and secondhand values.
"In the last two years the world has changed," said Hapag-Lloyd chief executive Rolf Habben Jansen.
