Following a windfall in profits by container carrier liners in recent times, Alphaliner reports they are heading for a steep fall in earnings in the fourth quarter.
Carriers could see their profits fall by up to 70% in Q4 compared to results of the previous quarter. A return to more realistic rates were expected largely driven by the Russian war in Ukraine, increased interest rates and the economic situation in leading economies all playing a role.
Israel's Zim Integrated Shipping Services is expected to see the biggest drop in profits of between 50%-70%in Q4. Maersk will be about 45% lower according to Alphaliner. Hapag-Lloyd between 30%-60% and Ocean Network Express down by 45% the report states.