In the 4th quarter of 2020, the largest container carriers made a record profit in the history of the industry
The fourth quarter of 2020 brought the world’s largest carriers the biggest revenue in the history of container transportation.And according to the operators’ expectations, a new record will be set in the first quarter of this year. This is reported by The Loadstar.
Thus, during the reporting period, the net profit of 11 carriers that reported their financial results amounted to $5.8 bln. However, given that some operators have not yet provided final financial statements, but they have achieved similar positive results, the total profit is an impressive $9 bln.
At the same time, according to the calculations of the investment company Blue Alpha Capital, the annual profit of public carriers amounted to $10.2 bln, and non—public – $15.8 bln. Overall, maritime carriers’ profits in 2020 are more than double the total profits of the previous five years (about $7 bln), with several carriers suffering hefty annual losses during this period. Moreover, the 2020 result completely changes the industry’s outlook before the pandemic.
