2010 liner profits nearly wipe out 2009 losses

2010 liner profits nearly wipe out 2009 losses    The world's top 25 container lines pocketed nearly $14 billion in profits in 2010, according to estimates from the maritime consultancy Alphaliner.
   The estimates include earnings from the six lines among the top 25 that don't publicly report their profits, including Mediterranean Shipping Co. and Hamburg S'd.
   'A number of carriers (chalked) up record gains, which almost fully made up for the aggregate operating loss of $15 billion suffered by carriers in 2009,' Alphaliner said. 'However, the turnaround is expected to be short-lived as operating margins have crashed in the first quarter of 2011 — especially on the Asia/Europe trade. A lack of discipline in regard to capacity management has prompted freight rates to decline across all main trades since the third quarter of last year, as all main carriers increased capacity in order to defend or even expand their market share.'