OOIL and the Taiwanese liners' revenue reports came out after the market close
on Friday (7 Oct). All four liners reported sequentially lower revenue in 3Q.
Liners will start to report their 3Q earnings in the coming weeks. These revenue
reports suggest 3Q earnings may have come off from this cycle peak in 2Q.
Consensus in the capital market is expecting 3Q liner* earnings to be between 4%
up and 18% down QoQ.
OOIL's 3Q revenue dropped only 5% QoQ while Wanhai's 3Q revenue dropped 18% QoQ.
Sequ