Diving spot rates on container freight across the Pacific Ocean in particular and on other major routes out of Asia have made prominent container equities decline during 2022.

This is evident from an analysis by Alphaliner, which highlights that the eight leading publicly listed box carriers have seen the value of their equities fall by 45 percent on average since the trend-setting Shanghai Container Freight Index (SCFI) peaked on Jan. 7.

For carriers such as Maersk and Cosco, 2022 has become a turning point after equities managed to stay put during 2021. The two companies, which otherwise have benefitted from long contracts and relatively less exposure on the Pacific, have seen their share value decline by 37 and 45 percent so far in 2022, respectively, writes the analyst firm.

The recent development in spot rates is, however, good news for carriers’ market value.

”Signs that the collapse in the SCFI is slowing however has been matched by smaller declines in share prices. The SCFI index plunged on average -9 percent each week in September. In October, this was reduced to an average -3 percent weekly decline,” writes Alphaliner.

English edit: Kristoffer Grønbæk

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