Liner bankruptcy potential at highest levels recorded
Container shipping has been warned in a new report it could face another Hanjin Shipping style collapse with one key liner bankruptcy indicator on red alert. The potential for liner bankruptcy potential is at its strongest in the 10 years that US consultants AlixPartners have been tracking this specific data set.
The collective Altman Z score of the 14 container shipping companies that publish their financials deteriorated markedly in the 12 months ending September 30, 2019, falling to 1.16 from 1.35 in all of 2018 and thereby signifying a rising probability of bankruptcy.
Source: Splash 247.com