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Container shipping is about to report blockbuster Q1 earnings
Listed container-ship owners and operators won’t report final Q1 results for another month, but three early disclosures give a taste of what’s to come. The signals are flashing bright green.
Taiwan-listed Evergreen just posted record-breaking monthly operating revenues for March, while Oslo, Norway-listed MPC Containers revised its outlook upward and Hong Kong-listed COSCO Shipping announced preliminary results that shattered analyst expectations.
The first quarter is shaping up to be much better than Q4 2020. For most container-shipping companies, it could be the best quarter in their history at least, until the second quarter.
In ocean shipping, present success often breeds future failure. Across the decades, freight-rate spikes have spurred newbuilding sprees, wiping out freight rates. Which brings us to today: Container freight rates are spiking and container-ship newbuild orders are surging at yards in China, South Korea and Japan. Is the ending of this story inevitable? Not necessarily. .
In a research report published by Dahlman Rose & Co. this morning the Danaos Corporation s (NYSE: DAC) 3Q10 results are reviewed.
Dahlman Rose & Co. writes, Danaos reported 3Q10 earnings of $0.05 ex-items, lower than our $0.10 and the Street s $0.09 average estimate. The company continues. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to: