Q2 profit

Container Market Sees Best Q2 With a $2.7bn Profit

  • The container shipping industry posted a combined profit of $2.7bn in the second quarter of this year.
  • The positive results were despite every line experiencing declining revenue and year-on-year volumes.
  • Hapag-Lloyd posted the highest profitability, at $146.40 per teu and HMM saw an ebit per teu of $129.10, marginally below Maersk’s $129.30 per teu.
  • The least profitable carrier was Yang Ming, with $18.60 per teu, just below OOCL at $45.10 per teu and the latter’s parent company, Cosco, at...

https://mfame.guru/container-market-sees-best-q2-with-a-2-7bn-profit/

Wilhelmsen Group Release 2020 Q2 Profits

  • Wallenius Wilhelmsen has released results for the second quarter of 2020.
  • Total income for the Wilhelmsen group was USD 197 million in the second quarter of 2020, down 8% from the first quarter and down 5% year-over-year.
  • The quarter ended with a net profit to owners of the parent of USD 57 million, equal to USD 1.27 earnings per share (EPS).
  • Supply services are expected to remain relatively strong over the next months, with a seasonal slowdown towards the end of the year.
  • The company’s...

https://mfame.guru/wilhelmsen-group-release-2020-q2-profits/

Effective Cost Controls Helped Asian Liners Q2 Profits

According to a Container News report, Liner operators Evergreen Marine Corporation, Wan Hai Lines, and Regional Container Lines (RCL) all reported profits for Q2 as blanked sailings and lower bunker costs mitigated the impact of reduced cargo volumes.

Evergreen recorded a net profit of TW$3.19 billion (US$108.28 million) and Wan Hai made a net profit of TW$1.68 billion (US$56.82 million).

How did they do it?

The Covid-19 pandemic tested the liner industry’s ability to practise capacity discipline...

https://mfame.guru/effective-cost-controls-helped-asian-liners-q2-profits/

A.P. Moller-Maersk Records Profit in Q2 Amid COVID-19

  • A.P. Moller-Maersk may generate $1.5 billion more in operating profit this year.
  • Soren Skou expects container volumes to be back at 2019 levels by the beginning of next year.
  • Shares in the company soared as much as 7.4% when trading started in Copenhagen.
  • Maersk managed to cut operating costs by 16% in the second quarter.
  • There was a 4.5% rise in freight rates, more than offset a 16% drop in volumes.
  • Maersk’s results suggest that the container shipping industry may be entering a positive cycle.

https://mfame.guru/a-p-moller-maersk-records-profit-in-q2-amid-covid-19/