OOCL bellwether numbers point to ocean carriers reporting huge Q3 profits
Third-quarter operational data from OOCL is the first hard evidence of huge profits made by ...
Germany’s Hapag-Lloyd reported preliminary results that were broadly in line with expectations.
– Ebitda and Ebit were significantly higher despite the coronavirus pandemic;
– Freight rate improved, although transport volumes slightly below prior-year level;
– Its “Performance Safeguarding Program” was successfully implemented.
Strong where it matters
Adding that 2020 ebitda rose to more than $3bn, it also disclosed ebit surging to about $1.5bn even though it includes one-off expenses in Q4 ’20 “of around $140m, mainly related to fleet optimisation”.
“Both key figures are therefore in line ...