• 2024 March 27 11:24

  Consolidated shipping lines EBIT loss was $1.44 billion in Q4 2023: Sea-Intelligence

  

  In 2023-Q4, the shipping lines recorded a combined EBIT loss of USD -1.44bn. Maersk (USD -920M), Hapag-Lloyd (USD -252M), ONE (USD -248M), Yang Ming (USD -109M), ZIM (-54M), and Wan Hai (-41M) all recorded EBIT losses in 2023-Q4, according to Sea-Intelligence.

  Comparing across the same set of shipping lines (minus ONE due to lack of historical reference points, and including Evergreen and HMM, both of whom had operating profits in 2023-Q4) this was the highest combined Q4 EBIT loss in 2012-2023, with the previous highest of USD -455M recorded in 2015-Q4.

  To see profitability (or the lack thereof) per TEU shipped, Figure 1 shows the EBIT/TEU for 2010-2023 and shows the unprecedented levels of the 2021-2022 pandemic period, whereas Figure 2 cuts off the y-axis at +/- 300 USD/TEU to show the developments in 2023.

  So far, Sea-Intelligence has EBIT/TEU data for 5 shipping lines, with COSCO missing from those that regularly report on both their EBIT and global volumes. Maersk’s EBIT/TEU of -148 USD/TEU is their largest negative EBIT/TEU in the analysed period. For Hapag-Lloyd, their EBIT/TEU loss of -84 USD/TEU is smaller than their only other negative EBIT/TEU of -239 USD/TEU in 2014-Q4. For ONE, their negative 2023-Q4 EBIT/TEU of -80 USD/TEU is their first. HMM, on the other hand, recorded a positive EBIT/TEU of 34 USD/TEU in 2023-Q4.

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2024 November 2

18:06	Singapore’s first fully electric cargo vessel wins Green Ship Award at SRS Forum
17:20	VTTI looks to buy into LNG terminals in Asia
16:48	Hudong-Zhonghua Shipbuilding signs contracts for 12 large container ships in the past 10 days
16:32	CHIMBUSCO secures its first LNG refueling service in Europe
15:46	SLB OneSubsea awarded subsea boosting contract for bp’s Kaskida project in Gulf of Mexico
15:24	Wilson Sons to start construction of three new eco-friendly tugboats in 2025
14:57	Rem Offshore holds keel laying ceremony for REM Pioneer
12:30	World's first conversion of large container ship to run on methanol successfully completed
11:52	New offshore platform taps into potential of heavy-oil reserves in China
11:24	HRDD completes desulphurization tower system conversion for a PCTC
09:48	TOWT launches its first cargo sailing ship in Le Havre

2024 November 1

18:00	Marlink to deploy Sealink NextGen hybrid solution on 26 tankers for Transpetro
17:38	Austal Australia delivers 8th Evolved Cape-class Patrol Boat to Royal Australian Navy
17:23	Acteon and Applied Fiber enter MoU to collaborate on mooring solutions
16:54	KOTUG International and Maritalia S.A. secure major marine services contract for bp’s Greater Tortue Ahmeyim gas project
16:24	BW LPG takes delivery of vessel BW Chinook from Avance Gas
15:44	HD Hyundai may nearly double shipbuilding capacity in Vietnam
15:24	Samsung Heavy Industries secures $390 mln contract for four Suezmax tankers
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13:22	MOL, COSCO Co-host 6th Shanghai International LNG Shipping Forum
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12:22	GTT secures technical services contract with Maran Tankers for eight LNG Dual-Fuel Suezmax vessels
11:45	MSC inks up $2.1bn container ship at the reborn shipyard Rongsheng Heavy Industries
11:28	China's first 'smart factory' for offshore oil, gas equipment fully operational
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10:23	Samsung Heavy wins W358 bln LNG ship order in Asia
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2024 October 31

18:00	MAN receives multiple orders for MAN B&W G95ME-LGIM Mk 10.5 methanol engines to power a series of VLCV
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2024 October 30

18:00	East Java Multipurpose Terminal partners with Sinarmas LDA Usaha Pelabuhan
17:22	Container traffic at Iranian ports up 5% in the first half of the current Iranian calendar year
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10:30	World's first ammonia-fuel dual-fuel bulk carrier begins construction
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2024 October 29

18:00	The U.S. Environmental Protection Agency announces selections for nearly $3 bln of investments in Clean Ports
17:34	Asyaport becomes first Turkish port to provide shore power to container ships
17:00	Port of Los Angeles awarded $412 million grant from U.S. EPA for zero-emission transformation
16:42	Oil spill occurred during bunkering operations at the Port of Singapore
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15:46	Wallenius Wilhelmsen signs five-year, $766 million deal