HAMBURG, Feb 1 (Reuters) - Container freight rates will keep declining in the current realignment of shipping demand and supply, said the chief executive of Germany's liner Hapag Lloyd (HLAG.DE), the world's number five by transport capacity.
"Now we have to fight for every box again to get our ships full," he said.
However, he expects freight rates will not fall below costs, which were being kept high by expensive charter rates, high fuel costs and the need to adjust fleets to running on low carbon fuel.
Ship docking and scrapping was increasing this year after a period when ship owners kept old vessels running to meet high demand, he said.
At the same time, Hapag Lloyd expects to receive a series of new ships it ordered in recent years, including some giant 23,600 twenty foot equivalent unit (TEU) vessels.