Maersk Line container volumes in the fourth quarter of 2016 will show that the carrier has been a key beneficiary of the Hanjin Shipping collapse, joining Orient Overseas Container Line that also enjoyed a volume bounce in the last three months of the year, said Lars Jensen, CEO and partner at SeaIntelligence Consulting.
Annual results season has begun and so far of the major carriers, the three Japanese lines have announced their results while OOCL has released its operational update for the year that shows revenue and volumes but no profit and loss figures. Maersk Line will release its 2016 earnings tomorrow.
Maersk Line recorded a USD116 million loss in the third quarter that took its nine-month losses to USD230 million. The 2016 year got off to a dismal start with first quarter profit collapsing 95% year on year, followed by a second quarter loss of USD151 million. Maersk Group CEO Soren Skou warned at the third-quarter results announcement that low rates in the first half would see liner division earnings falling sharply in 2016.
But it appears Hanjin's loss was Maersk's gain. When Hanjin collapsed on 31 August, shocked shippers fled to
Topic: Maersk 2016 loss expected to narrow on Q4 Hanjin effect (Read 2366 times)