Major shipping firms are spending record profits on new models mostly from shipyards of Korea and China.

There has been a rapid downturn in the last six months of 2022 which has troubled the container transport industry.

The French transporter's gloomy outlook aligns with with European rivals Hapag-Lloyd AG and A.P. Moller-Maersk A/S.

German tourism company TUI AG said on Sunday it will sell its marine shipping unit Hapag-Lloyd to a consortium of investors in a euro4.45 b...