News Highlights week: 31 - 2022

ONE posted a net profit of USD 5.5 bn for the April-June period, as revenue rose 56% on a year ago, and 7% versus the previous quarter, to a total USD 9.02 bn.
Despite the lockdown in Shanghai and hostilities in Ukraine, global cargo demand remained steady in the period, said the carrier, while supply chain disruptions continued, with certain improvements in port congestion offset by deteriorations elsewhere, notably on the US east coast. 

Asia-North America eastbound rates rose compared to the first quarter of the year due to the renewal of long-term contracts, although Asia-Europe westbound rates decreased.
ONE lifted a total 2.9 Mteu in the second quarter (first quarter of the Japanese financial year). This was 5% down on a year ago but up from 2.8 Mteu in January-March. 
The line, which recently slipped from number six to seventh place in the carrier rankings, saw utilization slip slightly on the Asia-Europe westbound trade, from 97% to 95% quarter-on-quarter. However, utilisatization remained at 100% on the Asia-North America eastbound route. 
Overall, ONE’s implied operating margin dropped slightly in the second quarter versus the first quarter. However, profits rose to due to the carrier’s higher revenues. It marks the first time quarterly sales have exceeded USD 9 bn. ONE will take delivery of ten 13,700 teu ammonia- and methanol ready container ships from Hyundai Heavy Industries and Nihon Shipyard in 2025
Hapag-Lloyd hikes full-year earnings forecast by 30% 
Operating earnings for Hapag-Lloyd rose by another 12% in the second quarter versus the first three months of the year, demonstrating that the financial juggernaut enjoyed by the carriers is not yet over. 
Preliminary results showed operating earnings (EBIT) at EUR 4.8 bn for the quarter, versus EUR 4.3 bn in the first quarter, and EUR 1.6 bn a year earlier.
This was despite an advisory by the carrier in mid May that results were likely to come in ’slightly south’ in the second quarter due to reduced demand. 

Hapag-Lloyd has now increased its EBIT predictions for the full year to EUR 16.3 - 18.2 bn, a massive increase of more than 30% on the previous range of EUR 11.7 - 13.6 bn stated in May. Were Hapag-Lloyd to hit the high end of the range, it would mean operating earnings would have nearly doubled on its 2021 EBIT result (EUR 9.3 bn).
Maersk raises 2022 forecast: predicts EBIT of USD 31 bn 
The Maersk group said it would again increase financial forecasts for the full year after posting second quarter profits well in excess of expectations.
In the third profit revision so far this year, Maersk said it now expected operating profit (EBIT) to reach a staggering USD 31 bn for 2022, driven by the continuing exceptional market in its Ocean (container shipping) division. 
The new forecast marks a near-30% uplift on the group’s previous forecast of USD 24 bn - similar to the increase announced last week by Hapag-Lloyd, see page 4. 

Maersk said the guidance was based on a gradual normalization in container shipping from the fourth quarter. However, the numbers themselves indicate little let-up during the year. 
Based on the new forecast, Maersk expects to generate EBIT of USD 14.9 bn in H2, versus USD 16.1 bn for the first half of the year. 
Maersk on Tuesday reported preliminary figures for the second quarter of the year. Revenue rose to USD 21.7 bn (12% higher than in Q1), while EBIT reached USD 8.9 bn (Q1: USD 7.3 bn).