Top lines’ first half earnings surge
A surprisingly swift recovery for the ocean carrier industry saw the 20 carriers that publicly report their financial earnings increase revenue by 39 percent in the first half of 2010, according to maritime news service Alphaliner.
That surge in revenue — resulting from higher rates and demand from the same period a year ago — helped the 20 lines to garner a collective 7 percent operating profit margin, compared to a 17 percent loss margin in the first half of 2009.
The 20 lines collectively had first half operating profits of $3.8 billion, compared to $6.9 billion in losses in the first half last year. Volume collectively grew 17.3 percent for the 20 surveyed lines.
In general, European lines saw their profit margins rise most sharply in the first half due to exploding container freight rates from Asia to Europe.