Pump up the volumes

OOCL ‘supercharged’ record final-quarter earnings tempered by falling volumes

Huge increases in freight rates last year are likely to lead to container carriers reporting record fourth-quarter earnings, despite carrying fewer volumes than in Q4 20.
This morning, Cosco-owned OOCL released its fourth-quarter operational update that reported volumes across its four main trades declined by 16.9% to 1.85m teu, compared with Q4 20’s 2.23m.
The financial performance, however, was markedly different, with total revenues more than doubling, from $2.4bn in the fourth …

The post OOCL...

https://theloadstar.com/oocl-supercharged-record-final-quarter-earnings-tempered-by-falling-volumes/

Brexit proves to be a boon for Ireland-Europe direct services

Brexit has proved to be a boon for shipping lines operating direct services between the Republic of Ireland (ROI) and continental Europe.
According to new data from the Irish Maritime Development Office (IMDO), although ROI ro-ro volumes in the third quarter were virtually unchanged from the same period in 2019 (the most suitable period of comparison, given pre-Brexit stockpiling in Q3 20), the choice of route has changed dramatically.
Now, around 33% …

The post Brexit proves to be a boon for...

https://theloadstar.com/brexit-proves-to-be-a-boon-for-ireland-europe-direct-services/

OOCL unveils ‘spectacular’ increases in first-quarter volumes and revenue

The scale of the improvement in the liner industry’s fortunes was laid bare today when OOCL released its first-quarter operational update showing its average revenue per container, across all trades, had increased 58.3%, year on year.
This was accompanied by a 28.3% year-on-year increase in volumes, which led to OOCL posting provisional Q1 21 revenue of $3bn, some 96% higher than its pandemic-afflicted first quarter of 2020.
The Hong Kong-headquartered line had …

The post OOCL unveils...

https://theloadstar.com/oocl-unveils-spectacular-increases-in-first-quarter-volumes-and-revenue/

Snapshot: Jubilant shipping lines set for record ’21 – but it won’t last forever…

The numbers for the liner industry are in and boy did it have a vintage year – the best that Drewry has records for, according to the consultant’s Q1 ’21 forecaster.

It estimates – and I think we can be pretty confident in the figures at this point – a 2020 ebit for the industry at $26.6bn, with the...

https://theloadstar.com/snapshot-jubilant-shipping-lines-set-for-record-21-but-it-wont-last-forever/

ONE profits surf the wave of soaring freight rates, with Q3 revenue up 29%

Japanese ocean carrier ONE recorded a net profit of $944m for its third quarter, October-December, and expects to see profits of $2.5bn for the full year.
That would represent an astonishing 172% upgrade on its November guidance, thanks to huge hikes in freight rates hitting the carrier’s bottom line.
Moreover, it would appear that ONE is being conservative with its $900m net profit Q4 forecast for January to March, given the impact …

The post ONE profits surf the wave of soaring freight rates,...

https://theloadstar.com/one-profits-surf-the-wave-of-soaring-freight-rates-with-q3-revenue-up-29/

Contract obligations kept Hapag-Lloyd from enjoying rocketing rates bonus

Hapag-Lloyd’s preliminary results for 2020, of an ebit of $1.5bn, are at the top end of its revised earnings forecast.
But the full effect of the surge in freight rates in the final months of 2019 will probably not be seen until this quarter.
Hapag-Lloyd said the main drivers for the enhanced results had been “improved freight rates and lower bunker prices”, as well as some $500m of cost savings.
The ebit figure …

The post Contract obligations kept Hapag-Lloyd from enjoying rocketing rates bonus

https://theloadstar.com/contract-obligations-kept-hapag-lloyd-from-enjoying-rocketing-rates-bonus/

OOCL profits are surfing the wave of soaring rates and demand

A very strong fourth-quarter 2020 operational update from OOCL is an indicator of the rich vein of profitability enjoyed by the liner industry since the middle of last year, despite the pandemic.
The liner barometer data released by the Hong Kong-based carrier’s parent, OOIL, reported Q4 revenue up a substantial 51.2% on the same quarter of the previous year, to $2.42bn.
Total liftings across OOCL’s four regions increased 23.7%, to 2,225,642 teu, …

The post OOCL profits are surfing the wave of...

https://theloadstar.com/oocl-profits-are-surfing-the-wave-of-soaring-rates-and-demand/

Against the odds: Forget the hype, bet on lower 2020 box numbers

It is still small, but discernible – a growing sentiment that 2020 container traffic could equal or even surpass, 2019. I am struggling to remember a January when annual port throughput statistics were so eagerly awaited (and I spent the best part of decade compiling the annual top 100 container ports supplement for a long dead maritime publication).
It would be another example of the amazingly counterintuitive ways that coronavirus has …

The post Against the odds: Forget the hype, bet on lower...

https://theloadstar.com/against-the-odds-forget-the-hype-bet-on-lower-2020-box-numbers/

Flow of US imports continues to surge – now at twice the rate of exports

With no let-up in consumer demand, container imports into the 10 largest US ports soared by 25% last month, compared with the previous year.
And with the forward booking visibility of transpacific carriers indicating that the US import boom is set to continue to at least the Chinese New Year in February, import throughput is likely to stay high.
However, the intense focus on repositioning empty equipment back to Asia, to meet …

The post Flow of US imports continues to surge – now at twice the...

https://theloadstar.com/flow-of-us-imports-continues-to-surge-now-at-twice-the-rate-of-exports/

An ‘uphill battle for shippers’ on the transpacific as carriers shy away from contracts

As Asia-US demand continues to surge, BCOs are struggling to ship contracted cargo and are increasingly turning to NVOCCs to support their fractured supply chains.
Anecdotal reports to The Loadstar suggest carriers are finding spurious reasons to refuse the release of equipment at depots in China, in addition to rolling contracted containers without notice.
“It’s a no-brainer really,” one Shanghai-based forwarder told The Loadstar. “Carriers can get four times the price for …

The post An ‘uphill...

https://theloadstar.com/an-uphill-battle-for-shippers-on-the-transpacific-as-carriers-shy-away-from-contracts/

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