nhan dinh keo nha caiNews Highlights week: 36-2021

Revenue more than doubled to USD 6.9 bn, from USD 3.4 bn in H1 2020. nhan dinh keo nha cai COSCO subsidiary, which publishes financials every half year, said EBIT from its container transport and logistics operations came in at USD 2.8 bn in nhan dinh keo nha cai six-month period, equivalent to a 40.9% operating margin. Liftings for OOCL rose 19% compared to H1 2020, while loadable capacity increased 14%.

OOCL recently ordered ten 16,000 teu newbuildings at Chinese shipyards NACKS and DACKS at a cost of approximately USD 157.5 M per ship. It will start to take delivery of nhan dinh keo nha cai first of twelve 23,000 teu vessels ordered last year from 2023 onwards.

Operating margins exceed 50% for several carriers in Q2
Container carriers’ average operating margin rose to a record 44.4% in Q2 2021, versus 38.2% in nhan dinh keo nha cai previous quarter, as lines’ business output was boosted by another jump in rates.
As expected, all ten lines increased their margins compared to nhan dinh keo nha cai first quarter, with results for medium sized Asian operators Yang Ming, Evergreen and HMM, which led nhan dinh keo nha cai pack, exceeding 50% for nhan dinh keo nha cai first time (58.4%, 53.2% and 50.5% respectively). Maersk group reported nhan dinh keo nha cai lowest margin at 28.7%.

Weak container volume growth, which averaged just 4% quarter-on-quarter, was offset by nhan dinh keo nha cai large increase in rates. nhan dinh keo nha cai average dollar amount per teu of nhan dinh keo nha cai ten lines surveyed rose 15% compared to nhan dinh keo nha cai previous quarter. nhan dinh keo nha cai slight increase in bunker prices in nhan dinh keo nha cai quarter had little impact.
Charter market continues to flourish
Despite a low level of activity essentially due to a lack of tonnage, nhan dinh keo nha cai charter market is still flourishing, as demand continues to far outstrip supply.
nhan dinh keo nha cai market is still very much two-tier, with short employment being negotiated at stratospheric figures, up to USD 200,000 per day for some ships, while nhan dinh keo nha cai more conventional 24 month and 36 month charters are commanding significantly lower, albeit historically high, rates.
However, while a number of fixtures continue to be agreed at ever stronger rates, there is a trend towards some price stabilization, especially in nhan dinh keo nha cai classic panamax 2,800-3,800 teu sizes as well as between 1,500-1,900 teu, where rates seem to be plateauing.

Whether this signals that nhan dinh keo nha cai peak is gradually being reached is up for discussion. Meanwhile, nhan dinh keo nha cai continued short supply of tonnage bodes well for NOOs in nhan dinh keo nha cai short and medium term in nhan dinh keo nha cai face of an ongoing robust demand from carriers, fuelled by continuously sky-high freight rates and cargo volumes.
Even nhan dinh keo nha cai forthcoming Golden Week in China in early October, a traditionally slower period for nhan dinh keo nha cai world container trade, is unlikely to put a break on nhan dinh keo nha cai demand for tonnage, with signs that liner shipping companies will blank fewer sailings than in previous years.
Carriers should therefore not expect any weakening in nhan dinh keo nha cai charter market any time soon, and are left with nhan dinh keo nha cai choice of pricey and longterm charter commitments, or alternatively nhan dinh keo nha cai purchase of tonnage.