How have shipping shares performed versus broader stock market?

chart of container shipping stocks

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Ocean shipping stocks are not “buy-and-hold” investments. Shipping is a highly cyclical industry;...

https://www.freightwaves.com/news/how-have-shipping-shares-performed-versus-broader-stock-market

Rebound in trans-Pacific container shipping rates has stalled

chart of trans-Pacific spot shipping rates

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Container shipping spot rates in the Asia-U.S. trade have halted their ascent after rising double...

https://www.freightwaves.com/news/rebound-in-trans-pacific-container-shipping-rates-has-stalled

How much money do shipping CEOs make? Here’s their 2022 pay info

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How much do ocean shipping executives make per year? The answer depends on whether you’re talking...

https://www.freightwaves.com/news/how-much-do-shipping-ceos-make-heres-their-2022-pay-info

Container lines paid out billions in boom-time profits via dividends

chart of shipping line dividends

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Shipping is extremely cyclical. Super-booms like the one experienced by container shipping in...

https://www.freightwaves.com/news/container-lines-paid-out-billions-in-boomtime-profits-via-dividends

Trans-Atlantic shipping suffers ‘meltdown’ as rates hit new low

chart of trans-Atlantic rates

The bigger they come, the harder they fall. The shipping boom in the trans-Atlantic market was one of the world’s biggest, and spot rates in this trade have not only plummeted from COVID-era highs, they’ve sunk below pre-pandemic levels.

“It is probably the deepest and fastest decline I have seen in my history [in the business],” said Thorsten Meincke, head of ocean and air freight at German freight forwarder DB Schenker, during an online panel discussion Tuesday.

According to Peter Sand, chief...

https://www.freightwaves.com/news/trans-atlantic-shipping-suffers-major-meltdown-as-spot-rates-crash

Shipping line Zim bets big on spot market as losses mount

chart comparing Zim rates to other carriers

More bad news from Zim, the world’s 10th-largest container line operator and a major player in the Asia-U.S. East Coast trade: After slashing its full-year guidance in July, it reported much steeper second-quarter losses on Wednesday than analysts expected.

Israel-based Zim (NYSE: ZIM) posted a net loss of $213 million for Q2 2023, compared to net income of $1.34 billion in Q2 2022 and a net loss of $58 million in the first quarter of this year. The adjusted net loss of $1.37 per share in the...

https://www.freightwaves.com/news/shipping-line-zim-bets-big-on-spot-market-as-losses-mount

July import volumes continue to mirror pre-COVID ‘normal’

chart of import volumes

“Imports still plunging, down 14% year on year” sounds alarming for the U.S. economy. But July’s percentage drop is an artifact of the COVID-driven import boom, a one-off event that ended in late 2022 that is no longer news.

“Imports unchanged versus pre-pandemic levels” is a less dramatic headline with no double digits, ominous undertones or “plunging” involved. Yet that is the real news: The volume of containerized imports to the U.S. is normal and healthy. There is no sign yet in the import...

https://www.freightwaves.com/news/us-import-volumes-continue-to-mirror-pre-covid-normal

Asia-US spot rates top contract rates for first time since 2022

Shipping lines have been in the red in the trans-Pacific trades for months. They may have just inched back into the black again, courtesy of the rise in spot rates over the past five weeks.

Annual trans-Pacific contract rates reset to sharply lower levels in May. Even so, multiple ocean carrier execs insisted on conference calls that they did not sign annual contracts at levels that locked in a year’s worth of losses.

The problem for carriers in recent months: A portion of their trans-Pacific...

https://www.freightwaves.com/news/trans-pacific-spot-shipping-rates-rise-above-contract-rates

Maersk hikes 2023 guidance but warns of ‘years’ of challenges

a chart showing Maersk rates

Maersk, the world’s second-largest container shipping company, raised its full-year earnings outlook Friday while simultaneously lowering its forecast for the second half.

The hike in full-year guidance was due to better-than-expected performance in the past — the second quarter — not greater optimism toward the future. Second-quarter upside was driven by lower-than-expected costs (in part due to slow steaming), not freight rates, which were in line with company expectations.

Conference call...

https://www.freightwaves.com/news/maersk-hikes-2023-guidance-but-warns-of-years-of-challenges