ROBUST peak season demand on key east-west and intra-Asia trades that kept vessel utilisation levels high and helped container shipping lines hold on to part of the freight rate hikes introduced in the third quarter resulted in a 3.3 per cent improvement in the carriers' average Q3 operating margins.
ROBUST peak season demand on key east-west and intra-Asia trades that kept vessel utilisation levels high and helped container shipping lines hold on to part of the freight rate hikes introduced in the third quarter resulted in a 3.3 per cent improvement in the carriers' average Q3 operating margins.
Based on the third quarter results of the 15 leading ocean liners, operating margins were also boosted by an average six per cent year-on-year decline in bunker costs in the third quarter.
Cost cutting has also borne fruit, as several shipping lines cited improved network and vessel efficiencies that have helped to lower their respective unit operating costs.
Despite these positive trends, three out of the 15 carriers surveyed by Alphaliner reported negative operating results for the third quarter.
Negative margins were reported by Hyundai Merchant Marine (HMM), CSAV and MOL.
Several carriers were able to reverse their operating losses in the third quarter, including Yang Ming, Hanjin Shipping, CSCL and Zim, which all reported positive operating results for their latest financial quarter.
Although Israeli shipping line Zim posted a net loss of US$65 million, as it incurred a one-time net restructuring charge of $45 million, the shipping line managed to record a positive core operating profit of $14 million, its first positive quarterly result in eight quarters.
CMA CGM's net profit jumped to $201 million in the third quarter, compared to $70 million in 2013 mainly due to lower interest expenses and $65 million of foreign currency exchange gains.
The improved results come despite a slightly weaker operating performance with core operating profits of $248 million for the third quarter, compared to $271 million in the same quarter last year.
This is despite the French shipping line's liftings rising 8.3 per year on year to 3.2 million TEU, while average freight rates fell 1.8 per cent over the same period.
Maersk and Wan Hai Lines once again remained the most profitable carriers, with core operating margins of 10.1 per cent and 9.7 per cent, respectively.
Based on the third quarter results of the 15 leading ocean liners, operating margins were also boosted by an average six per cent year-on-year decline in bunker costs in the third quarter.
Cost cutting has also borne fruit, as several shipping lines cited improved network and vessel efficiencies that have helped to lower their respective unit operating costs.
Despite these positive trends, three out of the 15 carriers surveyed by Alphaliner reported negative operating results for the third quarter.
Negative margins were reported by Hyundai Merchant Marine (HMM), CSAV and MOL.
Several carriers were able to reverse their operating losses in the third quarter, including Yang Ming, Hanjin Shipping, CSCL and Zim, which all reported positive operating results for their latest financial quarter.
Although Israeli shipping line Zim posted a net loss of US$65 million, as it incurred a one-time net restructuring charge of $45 million, the shipping line managed to record a positive core operating profit of $14 million, its first positive quarterly result in eight quarters.
CMA CGM's net profit jumped to $201 million in the third quarter, compared to $70 million in 2013 mainly due to lower interest expenses and $65 million of foreign currency exchange gains.
The improved results come despite a slightly weaker operating performance with core operating profits of $248 million for the third quarter, compared to $271 million in the same quarter last year.
This is despite the French shipping line's liftings rising 8.3 per year on year to 3.2 million TEU, while average freight rates fell 1.8 per cent over the same period.
Maersk and Wan Hai Lines once again remained the most profitable carriers, with core operating margins of 10.1 per cent and 9.7 per cent, respectively.
At last, no more recession / harsh economic climate being rammed down the throats of humble Dockers.
Mainlane Container Volumes on the Rise
Mainlane container trade volumes are expected to grow by 8% on the peak leg Far East-Europe route and by 6% on the peak leg Transpacific route in full year 2014, according to London-based shipbroker Clarksons.
Stricken by global financial crisis, the global container volumes plunged in 2009, trying to recover ever since.
The first stronger sign of recovery emerged in the second half of 2013, Clarksons data shows, with volumes on the Far East-Europe peak leg trade rising by 8.0% in the first nine months of 2014 compared to the same period in 2013, with Northern European imports performing particularly well.
Clarksons analysis shows that the Far East-Europe trade is projected to grow by a further 7.2% in 2015, to reach 16.6m TEU.
On the Transpacific peak leg trade, volumes rose by 5.6% in the first nine months of 2014 compared to the same period in 2013, when the trade’s estimated full year growth was 4.2%.
In addition, US imports from Asia have grown alongside an improving US economy, which the IMF expects to grow by 2.2% in full year 2014. The peak leg Transpacific trade is projected to grow at a robust rate of 6.0% in 2015 to total 15.5m TEU.
As explained by Clarksons, the extra demand from the peak legs of the mainlane routes has lifted world container trade to a more robust level of growth, expected to average 6.4% in 2014-15.
“In terms of elevating box volume growth back to healthier levels the mainlane
Comments
Post a Comment