HK's OOCL tops eight listed carriers in downturn: Dyanliner

HONG KONG's OOCL suffered the least of eight listed carriers with a loss of $116 per TEU in the first half of 2009 while the other seven lost an average of $264 per TEU, according to Dutch marine newsletter Dynaliners.

Published by the by Dutch maritime consultant Dynamar, the report said troubled Zim and Hapag-Lloyd lost the most per TEU at $360 and $270 respectively.

Other lines surveyed were China Shipping, Coscon, Hanjin and Maersk. All lost at least $231 million in the first half with Maersk losing $961 million. The eight saw first half revenue fall from 24 per cent in Hapag-Lloyd's case to 57 per cent in Zim's.

The statistics give "an impression of what has to happen to the rates for them to return to profitability and, ultimately, to survive," Dynamar said. "It explains the almost daily announcement of yet another rate increase to which they're all taking a firm stand now: no company can sustain such losses any longer."

(Source: www.schednet.com)