Cheaper fuel prices saw ocean carriers improve their average operating margin to 3.6% in the third quarter.
This compares with just 0.6% in Q3 last year and is despite a 1.8% decline in freight rates.
According to Alphaliner, the Q3 market leader was Hapag-Lloyd, with an operating margin of 7.8%, followed by Maersk, at 7.3%.
Dragging down the average for the carriers that publish their results was HMM, with a negative operating margin of -5.7%, extending …
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Source: The Loadstar
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