CARRIERS have expressed mixed feelings in relation to their outlook for the rest of 2010.
After suffering considerable losses in 2009, the majority of shipping firms were satisfied and some even expressed unexpected elation at the half-year performance. However, a lot of uncertainties lie ahead.
According to Alphaliner 17 out of 20 major carriers reported financial gains in the first half of 2010, and the collective profits of them topped US$3.78 billion year on year, reversing the gigantic loss of $6.9 billion in the same period of last year.
Average operating margins soared significantly from -17 per cent in the first half of 2009 to seven per cent this year.
Major economies were easing out of recession in the first half of 2010, resulting in growing international trade and soaring throughput at ports across the globe.
This all helped to bolster liner revenues to the extent that big gains could be made.
A.P. Moller-Maersk's interim report stated its profit grew 20 per cent to $2.5 billion in the first half compared to a loss of $0.5 billion in the same period of 2009.
"The first half of 2010 has been very satisfactory for the group, and we expect a full year profit in excess of $4 billion.
“The container market has improved beyond our expectations... However, we still view the development in the global economy as uncertain, and this may affect us from the last quarter of 2010," said CEO Nils Andersen.
A recent report from Bloomberg said that Maersk Line believes the global shipping industry may need to cut container cargo capacity from the fourth quarter due to sluggish demand growth in the US and Europe.
Source : CSM, 14.09.10.
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