According to the latest forecast by UK shipping consultancy Drewry, the world container shipping industry could post an unprecedented half a trillion dollars of operating profit by the end of 2022. This would far exceed the record $190 billion profit made in 2021 in a global shipping environment dominated by astronomical freight rates and severe supply chain issues.
The 11 global carriers that publish their results posted a $59.3 billion net profit in the first quarter of this year. This represented the sixth consecutive quarter of the highest net income ever for the container shipping industry.
Among carriers, Hapag-Lloyd, for example, reported a record operating profit of EUR4.3 bn ($4.8 bn) for Q1 2022. It indicated last week that it expected second quarter results to come in “slightly south” of the first quarter. (Photo Dreamstime)