Darn shame about that inflation.Container lines report record profitability in the third quarter
Αll global ocean carriers saw revenues increase substantially as a consequence of the record-high freight rates, with year-on-year revenue growth ranging from 83.9% for Maersk to 274.1% for Wan Hai, αccording to data from Sea-intelligence.
In terms of earnings before interest and taxes (EBIT), the shipping lines made a whopping US$37.24 billion in operating profit in Q3 of 2021 alone, according to the Danish firm.
"Combine this with the 2021 first half operating profit of 42.10 billion, and the carriers have made nearly US$80 billion in operating profit so far this year[c. November 2021]," noted Alan Murphy, CEO of Sea-Intelligence.
This does not include MSC, the world's currently second-largest carrier, which as a privately held company is not required to publish its accounts.
"To put this into perspective, the combined 2010-2020 operating profit across all quarters was US$37.86 billion," added Murphy.
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