The major container carriers should not expect a significant jump in earnings in the third quarter. Everything seems to show that the quarter will be slightly better than the corresponding quarter of 2012, but with much smaller margins if recent history is repeated, writes the analyst firm Drewry Maritime Research on Monday in Container Insight Weekly.
The carriers’ expectations of a better third quarter are based primarily on the historical expectations for the major retail dealers to be stocking up in the U.S. and Europe for the back-to-school season followed by Thanksgiving (in the U.S.), Christmas, and New Year. But the conditions are not what they used to be, writes Drewry, which notes that reports from major container carriers also indicate some nervousness with regards to the extent of last year’s dramatic events with historically low rates. Perhaps this is due to the stakes being so high and to the fact that further deliveries of huge ships in 2013 are still pending. A growth in freight rates is dependent on the deliveries of the huge ships.
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