Overcapacity and weak freight rates worsen the credit outlook of the global container shipping industry

2023-09-05 ~ 2023-09-11

Published on: 2023-09-11

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This Weekly Credit Brief was published 16 days ago. The information within it may have since developed or changed.
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PD – Term Structure

AS – Term Structure

Recovery Rate:


PD – Historical Time Series

Forecast Horizon:

AS – Historical Time Series

Contract Term: Recovery Rate:
Probabilities of Default for Different Prediction Horizons:
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* There is a total of 1 event(s) for AP Moller - Maersk A/S
    - Other exit in Feb-1991.
* There is a total of 1 event(s) for Hapag-Lloyd AG
    - Other exit in Aug-2002.
Data Table
Actuarial Spreads for Different Tenors:
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* There is a total of 1 event(s) for AP Moller - Maersk A/S
    - Other exit in Feb-1991.
* There is a total of 1 event(s) for Hapag-Lloyd AG
    - Other exit in Aug-2002.
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The probability over time that the selected entity(s) will default within the next:
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The historical time series of the Actuarial Spread for the selected entity(s) based on a contract term of:
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Data notes

    • There is a total of 1 event(s) for AP Moller - Maersk A/S
      • Other exit in 1991-02.
    • There is a total of 1 event(s) for Hapag-Lloyd AG
      • Other exit in 2002-08.
    • The PDs and Actuarial Spreads of each company/economy are computed using model parameters that were calibrated
      • on 2023-09-11.
      • using data that was available on 2023-08-31.
    • The aggregate PD and Actuarial Spread displayed are calculated using the simple median of the individual measures in each group. The aggregate PD and Actuarial Spread using mean values are accessible through the data download section.
    • The regions are regrouped on 2017-12-18 as: Asia Pacific (Developed), Asia Pacific (Emerging), North America, Europe (including 2 subgroups: Eurozone and Non-Eurozone), Latin America & Caribbean (including 2 subgroups: Latin America and Caribbean), Sub-Saharan Africa, and Middle East, North Africa & Central Asia (including 3 subgroups: Middle East, North Africa and Central Asia).

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