The main container carriers’ average operating margin improved to 3.6% in the third quarter of 2019, largely due to lower bunker costs, Alphaliner reports in its latest weekly report. However, there is one carrier that stands apart, still mired in red ink.
Among the main carriers surveyed by Alphaliner, South Korea’s HMM was the only shipping line that posted a negative operating margin in the third quarter, extending its negative earnings streak to 18 consecutive quarters.
HMM’s operating margin of -5.7% was an improvement over Q2’s -8.1%.
HMM was one of just two carriers, among those who publicly reveal their quarterlies, to record a negative EBIT in Q3. Yang Ming was the other liner to be in negative territory. HMM will shortly join Yang Ming as a new member of THE Alliance.