Companies/Financials

Total 184 Posts

Companies

Taiwanese Monthly Revenue: February performance hit by lower rates and volumes

Yang Ming and Wan Hai have also reported their February revenue after Friday (10 March) close, following Evergreen's report a day before. The trend is similar to that of Evergreen's e.g. being down 22% MoM and 69% YoY. The 22% February drop is larger than CCFI's 8% MoM drop in February, with volumes falling sharply during the month.

Companies

Yang Ming 4Q22 earnings dropped 76% YoY

Yang Ming provided headline FY2022 results overnight (10 Mar) where earnings attributable to shareholders during 4Q 2022 dropped 76% YoY and 71% QoQ, much steeper drop than most the peers that have reported so far.

Companies

Evergreen reported 63% YoY fall in Jan+Feb revenue

Yang Ming reported this morning (10th Mar) FY2022 earnings plus large dividend pay-out. But what may have gone unnoticed today is that Evergreen also reported Feb 2023 top line overnight (9 Mar), being the earliest of any container liner financial reports. Evergreen's Feb revenue in USD terms fell 68% YoY and 28% MoM. Combining January and February, the two-month aggregate revenue fell 63% YoY. As the liners did not make over 60% operating profit margin in 1Q 2022, over 60% fall in revenue means

Companies

Hapag-Lloyd Guidance’s Track Record

Hapag-Lloyd guided €2-4 Bn in Earnings before interest and tax (EBIT) for 2023, which would turn out to be the third best year of its operating track record going back to 2003. Hapag-Lloyd has been providing guidance since 2014 prior to its public listing in Nov 2015. An analysis of the Hapag-Lloyd earnings guidance from the past 9 years show Hapag-Lloyd beating their own guidance 6 times and missed only once in 2016. Despite its relatively sound earnings guidance track record, its forecast o

Companies

SITC reported 38 % HoH drop in earnings for 22H2

SITC reported after market close on 7 March where 22H2 net profit dropped 38% HoH, much steeper than larger liners' 10-11% HoH drop on SITC particularly high spot market exposure. SITC reports full results semi-annually while provides top line update quarterly. On quarterly basis, 4Q 2022 revenue dropped only 11% QoQ, decelerating from the 20% QoQ drop in 3Q as SITC gained market share by having increased its volume during 4Q by 18% QoQ. Maersk reported lower intra regional volume while Hapag

Companies

CMA CGM net profit down 57% QoQ

CMA CGM disclosed some head line figures for its FY2022 and Q4 2022 results on March 4. The group level net profit dropped 57% QoQ and 55% YoY, driven primarily by lower container freight rates (-13% QoQ) and to lesser extent lower volume (-9% QoQ). CMA CGM has not disclosed its expenses break-downs and liner level EBIT in this set of numbers. Group level net profit dropped $4bn QoQ against $3.6bn QoQ drop in shipping segment's EBITDA suggest the depreciation (e.g. chartering expenses) and tax e

Companies

Transfar Shipping not owned by Worldwide Logistics and is not an affiliate of Safetrans Line.

Transfar Shipping has informed Linerlytica that it is not owned by Worldwide Logistics and is not an affiliate of Safetrans Line. Transfar Shipping was established in Singapore in 2018 and operates independently on the transpacific trade since 2021.

Companies

Focus Container Line in liquidation

Focus Container Line has become the second casualty of the container market downturn after liquidators were appointed on 14 February 2023 to wind up the company that is based in Brendale in Queensland, Australia. It follows the insolvency of the UK based Allseas Global Project Logistics in October 2022. Both companies suffered from their ill-timed entry into the container shipping markets that have been hit by a collapse in freight rates. Focus Container Line was established in March 2022 but o

Companies

OOIL 4Q revenue dropped $1.8bn or 37% QoQ

OOIL reported 4Q 2022 top line breakdown after Hong Kong market close yesterday (11 Feb). 4Q revenue was down by 37% QoQ and 35% YoY, driven by lower freight rates. Most of the routes, except for Transatlantic, were hit similarly and the fall in average freight rates was broadly in line with the fall in CCFI. OOIL only reports full set results semi-annually. On the $2.2bn or 21% HoH fall in revenue, OOIL's 2H 2022 net profit may also fall about $2bn or 38% HoH. OOIL usually reports past year's

Companies

Container Liners Saw Lower Revenue in January

Taiwanese liners' January revenue continued its slide. In aggregate these 3 listed liners' revenue at about $1.6bn in January was down 14% MoM and 65% YoY. The 14% sequential fall in January was similar to the pace of fall in December. This year's Lunar New Year public holidays went from 21 to 27 January in China. Many factories in China closed ahead of the official public holidays and resumed production later than the official holiday end, which may have negatively impact container shipment v

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