Drewry forecasts $100 billion profit for ocean carriers
Global shipping register, Drewry, reports in latest forecast that 2021 will be the first year carrier profits will approach $100 billion.
Despite huge operational disruption caused by the Covid-19 pandemic, global shipping register, Drewry, forecasts record gains for the containership industry and predicts a cumulative profit of $100 billion in 2021.
“We are now forecasting industry earnings before interest and taxes (EBIT) of approximately $80 billion for this year, up from our previous estimate of $35 billion.
“If freight rates surpass expectations in the remainder of the year, we would not be surprised to see an annual profit line in the region of $100 billion,” said Drewry.
Drewry forecasts EBIT to drop by one-third in 2022 due to softening of freight rates and rising costs, with many carriers locking into longer-term charter fixtures.
