In the latest Container Insight Report by Drewry Shipping Consultants, it reveals the surprising situation of the revenue of almost every major container carrier being down in the first half of the year compared to the same period last year, but profits up.
Drewry believed that the direction that fuel costs have taken means that carriers’ costs were falling faster than freight rates, enabling them to continue posting profits, albeit likely to continue shrinking.
It estimated that industry-wide unit costs fell by around 11% in the first half, while unit revenues were down by approximately 7%.
