Stock rebound lifts number of carriers valued at more than USD 10 bn to six and counting
The number of publicly-listed container carriers with a valuation of more than USD 10 bn rose to six this month, with two more lines following closely behind.
It follows a resurgence in the value of container shares on the back of general stock market gains and a realisation that supply chain disruption is so far offsetting a decline in consumer demand for the carriers.
The majority of container shares have risen between 15% and 40% since early July when the first week saw a general bottoming out in stock values after the previous slide.
The momentum continued last week after Hapag-Lloyd announced a significant hike in forecasts for the full year, and ONE unveiled more record earnings for the second quarter.
Hapag-Lloyd now expects operating profits (EBIT) of USD 17.5-19.5 bn for 2022 versus original projections of USD 12.5–14.5 bn in May.