It is a business that has helped generate a $15trn boost to global economic output by facilitating efficient supply chains. But in doing so, it has destroyed around $100bn in shareholder value over the past 20 years.
That is McKinsey & Co’s blunt assessment of the current state of the container shipping industry. Worse than that, the consultancy is not as optimistic as most industry watchers about predicting an end to the current destructive freight rate environment.
