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Container lines rack up ‘amazing’ $28.6bn profit in Q2

The McCown Container Results Observer reported that the 11 container lines that represent about 64.5% of the sector have made profits pf $18.44 bn according to their public report.

The “amazing” second quarter 2021 profitability compares to $2.2bn in the same quarter in 2020, which was in line with historical averages. The second quarter profit eclipses the already record breaking first quarter of 2021 profit of $19.1bn by some $9.5bn. In the final quarter of 2020 container shipping made a $9.1bn profit.

Blue Alpha Capital report says, “By any and all financials, the 2Q21 results were by far the best actual quarterly performance by the container shipping industry in its history.”

Revenues for the sector in the second quarter were $88.9bn equating to net margin of 32.1%. “I never actually expected to see an actual net income to revenue margin of 32.1% for any major container shipping company, let alone for the entire industry,” John D. McCown, the founder of Blue Alpha Capital said.
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