The Purse Strings

Carrier ‘gravy train’ steams ahead, thanks to congestion and new contracts

Despite a weakening in demand, ocean carriers will bank another $200bn of profit between them this year.
In its latest Container Forecaster report, maritime consultant Drewry said it was downgrading its 2022 outlook for world port throughput to 4.6%, from its previous assessment of 5.2%.
This is due to “fast-rising inflation” and ongoing supply chain bottlenecks which, it said, were “conspiring to slow the pace of growth”.
Nonetheless, Drewry says it expects the …

The post Carrier ‘gravy train’...

https://theloadstar.com/carrier-gravy-train-steams-ahead-thanks-to-congestion-and-new-contracts/

Sailing towards record profits, Maersk will give $80m bonus to employees

The AP Møller-Maersk group is set to award a $1,000 annual bonus to its 80,000 employees, according to this report from Bloomberg via gCaptain, although this will not include the company’s 400 most senior executives, many of whom already have bonuses linked to group profits. The group is forecast to make a net profit of over $17bn this year, compared with $2.9bn last year, leaving some employees to question why …

The post Sailing towards record profits, Maersk will give $80m bonus to employees...

https://theloadstar.com/sailing-towards-record-profits-maersk-will-give-80m-bonus-to-employees/

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/

Record container carrier profits on course to extend for a further two years

After cumulative ocean carrier profits exceeded some $9bn for the final quarter of 2020, the returns for the liner industry could double that in Q1 this year.
Cosco Shipping told analysts last week it expected its Q1 net profit would reach a massive $2.3bn, compared with just $44m for the same period a year ago, after its average freight rate leapt 54% quarter on quarter.
“It will be another strong year for …

The post Record container carrier profits on course to extend for a further two years...

https://theloadstar.com/record-container-carrier-profits-on-course-to-extend-for-a-further-two-years/

Q4 20 most profitable in container shipping history, but 2021 will be better

Ocean carriers enjoyed their best quarter in container shipping history in the final three months of 2020, but are expected to have significantly topped that record in the first quarter of this year.
According to New York-based Blue Alpha Capital, fourth-quarter net earnings for the 11 carriers that report their financials came in at $5.8bn, but assuming that the non-reporting operators, such as MSC, achieved similar results, based on the average …

The post Q4 20 most profitable in container...

https://theloadstar.com/q4-20-the-most-profitable-in-container-shipping-history-but-2021-will-be-better/

Strong second half gives Yang Ming newfound financial confidence

Like its industry peers, Yang Ming saw profits soar in the final quarter of last year, recording a surplus of $343m, pushing full-year net profit to $405m.
Despite a 6.6% decline in liftings, to 5.1m teu, the Taiwanese carrier’s turnover improved 1.4% year on year, to $5.11bn, as freight rates leapt in the second half of the year while fuel costs remained low.
Yang Ming achieved its first profitable quarter in over …

The post Strong second half gives Yang Ming newfound financial confidence...

https://theloadstar.com/strong-second-half-gives-yang-ming-newfound-financial-confidence/

‘Revitalised’ Zim reports biggest profit in its 75-year history

Israeli ocean carrier Zim has posted its first annual profit for three years – and the biggest in its 75-year history – recording a net income of $524m for 2020 and claiming it is a “revitalised company”.
Zim carried an-above industry par 0.7% more containers last year than in 2019, at 2,841,000 teu, and revenue jumped 21%, compared with the previous year, to $4bn, for an ebitda of $1.04bn, up from $399m …

The post ‘Revitalised’ Zim reports biggest profit in its 75-year history appeared first on

https://theloadstar.com/revitalised-zim-reports-biggest-profit-in-its-75-year-history/

Hapag-Lloyd profits triple and soaring rates promise billions more in 2021

Hapag-Lloyd will see billion-dollar profits this quarter and the next, as even higher freight rates kick in across global tradelanes.
Boosted by an ebitda of $1bn, and a net profit of $463m, in the final quarter, the German carrier posted a profit of $1.1bn for last year, compared with $418m the previous year.
But it said it expected profitability to “significantly increase” this year, and has issued guidance of an ebitda of …

The post Hapag-Lloyd profits triple and soaring rates promise...

https://theloadstar.com/hapag-lloyd-profits-triple-and-soaring-rates-promise-billions-more-in-2021/

$2bn turnaround for CMA CGM in 2020 with demand and freight rates cruising

CMA CGM has posted a net profit of $1.75bn for 2020, following a loss of $229m the year before, and said it was “confident” about the outlook for 2021.
The French carrier stormed to a net profit of $1bn in the final quarter as freight rates soared across the world’s tradelanes, buoyed by consumer demand and supply chain bottlenecks.
Rodolphe Saade (pictured above), chairman and CEO of CMA CGM Group said: “In …

The post $2bn turnaround for CMA CGM in 2020 with demand and freight rates cruising...

https://theloadstar.com/2bn-turnaround-for-cma-cgm-in-2020-with-demand-and-freight-rates-cruising/

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.