Taiwanese liners reported their June revenue, which in aggregate were up 32% MoM
and 78% YoY. On quarterly basis, these liners' top line were up 20% or $1b QoQ
to over $6bn in aggregate.
The last time these liners together earned over $6bn in revenue were back in 4Q
2022. The combined EBIT for these 3 liners were just $800mn in 1Q 2024. The $1bn
QoQ jump in revenue, driven mainly by the spot freight rates uptick, may have
doubled these liners' EBIT in our estimates.