The profitability of the freight industry will rely solely on cost cutting exercises.

According to Drewry, carriers are unable to expect an increase in cargo or revenue to enable them to remain solvent.

Publishing the findings of its Container Forecaster report for the fourth quarter of 2013, the shipping consultancy firm states that freight rates have remained historically weak and advises companies to revert back to focusing on their core businesses. In addition, it warns that the business plans of some carriers simply are not working.

Neil Dekker, Drewry's head of container research, acknowledged that the top firms in shipping are in the process of adapting to a shift away from the negative practices that took place before, yet advised there was still more to be done. He said: "There are unfortunately the same old negative trends that refuse to go away, and these ultimately take the gloss off the good things that are being done." 

Drewry also predicts that there will be a necessity for shipping companies to join forces and share vessels, stating that the day of truly independent operators is now over.