Container liners Q4 earnings report will likely be a turning point of this earning cycle, underlined by the 45% QoQ drop in average CCFI index. Listed Taiwanese liners have released their revenue report in the second week of January. The up coming liner revenue or earning reports IF they follow last year's release schedule would be as follows (last year release date): 1. Maersk preliminary results (14 Jan); 2. Matson profit alert (19 Jan); 3. OOCL operating updates (24 Jan); 4. COSCO prof
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
The best yard stick, in our view, measuring management performance is the financial return generate over time. And the most direct financial return for shareholders is the dividend pay-out relative to a company's market value. Liners have been swimming in cash on extraordinary earnings since 2021. Reasonably, they also distributed dividend generously. Between 2021 and July 2022 end, a total of $38bn* of dividend paid while another $14bn have been committed to be paid in 2022 by the 16 shipping
OOIL's 22H1 revenue was $1.25bn bn higher than that in 21H2. Given the $1.25bn increase came mostly from HoH higher freight rates, most of such increase could show up in the net profit.