European liners appear far more adept at their business than their Asian peers, according to analysis from Alphaliner.
Average operating margins of the main carriers that have published their financial results turned positive in the third quarter of 2018 to 0.5%, but remain well below the 5.3% level recorded in the same quarter last year.
Results varied across the main shipping lines, with the three European carriers Hapag-Lloyd, CMA CGM and Maersk, leading the pack.
Asia-based carriers lagged behind with three of them, Yang Ming, ONE and HMM, posting negative results for the quarter.
“Competition remained keen, as carriers continued to chase market share,” Alphaliner noted in its most recent weekly report.