The cumulative loss of the global container carriers in 2016 is probably around seven billion dollars.

This has been reported by the Danish “SeaIntelligence Consulting” company, based on the already published red figures of Us$ 5.3 billion by the listed shipping companies, they have calculated a joint average loss of Us$ 6.9 billion for the whole sector.

Most of the top 20-carriers are listed on the stock exchange and therefore have to share detailed financial information with the outside world. Biggest exception is the Swiss-based number 2 in the world “MSC”, whose ownership rests with the family “Aponte” and is figuratively hidden behind the mountains.

One of Taiwan’s lines “Yang Ming” announced late last week a loss of almost Us$ 500 million, almost twice as much as in 2015. Last Friday the Chinese line “Cosco” reported over Us$ 1.4 billion loss, the highest figure so far. The nr. 1 in the world “Maersk line” reported a deficit of 376 million against 452 million from the nr. 3 “Cma-Cgm”.

The numbers  also include the loss of over Us$ 400 million in the first half of the year, of the bankrupt South Korean line “Hanjin”. Players who have yet to open their books include Taiwanese “Evergreen” and the German “Hamburg Süd”, last one will be taken over by Maersk later this year if regulators give the green light.

Source: Nieuwsblad Transport