Container carrier profits soar on record volumes, higher rates

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Container carrier profits soar on record volumes, higher rates - Economic Times

Quick Summary:

Fortunes in the industry, which transports 80% of global merchandise trade, boomed during the pandemic amid strong consumer demand and Covid-related disruptions to supply chains, before notching a collective loss again in the final quarter of 2023, according to McCown’s tally.

Profit for the current quarter may also be set to show another “material increase” given how well the market for international goods trade has been holding up, he said.

Now, shipping lines are again benefiting from positive supply and demand factors and profits are rebounding, although they’re still far below the pandemic peaks.