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News / Carriers get benefit of the doubt on charges of profiteering from the crisis

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After better-than-expected first-quarter results, ocean carriers have upgraded their financial guidance, despite the impact of the pandemic.

However, they are being accused in some industry circles of “profiteering from the crisis”.

Container spot rates have soared on the major tradelanes as aggressive carrier capacity management strategies have ...

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  • Gary Ferrulli

    July 07, 2020 at 4:40 pm

    Think of that, the carriers may make money one year in a row, and someone thinks that is profiteering. Never mind that collectively they lost between $25. and 30 Billion over the last 10 years, focus on this one year where they might collectively make $1.5 Billion.
    The real fear should be that the carriers have finally decided to manage their business as a business, making consistent profits so as to sustain themselves and re-invest without governments subsiding them.

  • Jacob Clark

    July 08, 2020 at 5:25 pm

    This is true, according to some estimates, they totally lost even more than thirty million dollars. And this is simply not a quality business, unfortunately. After all, a whole structure, with which it is already ready, which can really bring a good and large monthly and annual income. But this structure is not perceived as a business unit. I think that it would be important in reality. And I would like to believe that it will still work.

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