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Major shipping lines amass record US$41.6b in Q2 EBIT
来源：shippingazette 编辑：编辑部 发布：2022/09/16 09:37:30
MAJOR shipping lines recorded a combined second-quarter EBIT (Earnings Before Interest and Tax) of US$41.6 billion, without taking into account the EBIT of French shipping giant CMA CGM, according to a Sea-Intelligence report.
"This is not only higher than the combined Q2 EBIT of the past 11 years but is also right at the top with the 2021-Q4 and 2022-Q1 EBIT," said Alan Murphy, CEO, Sea-Intelligence.
"Once CMA CGM's EBIT is included in the list, 2022-Q2 would likely become the most profitable quarter in the last decade. CMA CGM who have only issued a press release so far, which does not list their EBIT.
"We should stress that we do not mean this as a value judgement on whether shipping lines making money is a good or a bad thing, and we note it has generally been an unprofitable business for the past decade or so; we are merely pointing out the unprecedented nature of the current market dynamics," Mr Murphy added.
The report said that the 2022-Q2 EBIT/TEU figure of each of these shipping lines dwarfs each of the previous years, with the latter hardly relevant in context of the outsized EBIT/TEU numbers. These figures are backed by a year-on-year increase in freight rates in 2022-Q2.
Mr Murphy pointed out that "this level of profitability, however, might not continue into Q3, due to the fast-falling freight rates, and the slowdown in global demand".
"This is not only higher than the combined Q2 EBIT of the past 11 years but is also right at the top with the 2021-Q4 and 2022-Q1 EBIT," said Alan Murphy, CEO, Sea-Intelligence.
"Once CMA CGM's EBIT is included in the list, 2022-Q2 would likely become the most profitable quarter in the last decade. CMA CGM who have only issued a press release so far, which does not list their EBIT.
"We should stress that we do not mean this as a value judgement on whether shipping lines making money is a good or a bad thing, and we note it has generally been an unprofitable business for the past decade or so; we are merely pointing out the unprecedented nature of the current market dynamics," Mr Murphy added.
The report said that the 2022-Q2 EBIT/TEU figure of each of these shipping lines dwarfs each of the previous years, with the latter hardly relevant in context of the outsized EBIT/TEU numbers. These figures are backed by a year-on-year increase in freight rates in 2022-Q2.
Mr Murphy pointed out that "this level of profitability, however, might not continue into Q3, due to the fast-falling freight rates, and the slowdown in global demand".