Astonishing is a good description. Stunning would fit as well. Also OMG.
From The Loadstar, November 1:
With stock market-listed ocean carriers reporting even better-than-expected profits for the third quarter, their executive boards are being forced yet again to upgrade full-year earnings forecasts.
A third of the way through the final quarter, carrier profits are trending even stronger, as higher contract rates begin to filter through to voyage results and combine with the sky-high spot rates lines are enjoying across many trades.
Indeed, the massive industry-wide $150bn full-year estimate Drewry posted just a few weeks ago already appears a tad conservative.
For example, ahead of publication of its nine-month interim result, on 12 November, Hapag-Lloyd has upgraded its full-year ebitda guidance by an eye-watering 24%, to $12bn to $13bn.
This follows a stunning provisional ebitda of $3.9bn for Q3 and a nine-month ebitda of $8.2bn.
It said: “Due to unabated global demand for container transport and the continuing disruptions in global supply chains, causing a shortage of available transport capacity, Hapag-Lloyd posted very strong financial results in the first nine months of 2021.”
And following ONE’s stellar result for its Q2 of $4.2bn, announced on Friday, leading to it upgrading its fiscal year profit to nearly $12bn, analysts are having to recalibrate their earnings expectations....
....MUCH MORE
If interested see also:
