LINER INDUSTRY’S MOST PROFITABLE PERFORMANCE IN SEVERAL YEARS

It took the worst global economic crisis we have seen in over a century for the liner industry to report its most profitable performance in the span of several years in 20Q2. The steep correction in trade volumes was met by even steeper capacity withdrawals, resulting in high vessel utilization of the trading fleet and pushing liner freight rates to 5-year highs. Such unprecedented disciplinary actions helped boost liner revenues in the second quarter despite the drop in liftings, and in combination will lower OPEX (mainly due to low fuel prices) led to solid profits.