Top Ocean Carriers Lost $15 Billion in 2009

The world’s top container lines lost an average of $1,500 per 20-foot equivalent unit of fleet capacity while racking up an estimated $15 billion in operating losses last year, AXS-Alphaliner reported in its weekly newsletter.

The Paris-based information service said 18 of the top 23 carriers recorded operating losses totaling $12.9 billion in the industry’s worst year ever. Including carriers that don’t publish results, total losses by the big lines were estimated at $15 billion.

AXS-Alphaliner said operating losses, divided by capacity of ships in operation or idle, amounted to $2,400 per TEU for Cosco and $921 for Maersk Line, the world’s largest container line. MISC Berhad had the largest rate of loss at $3,600 per TEU, AXS-Alphaliner reported.

A recovery in cargo volume and rates has pushed some carriers back to profitability in the first quarter. Average volume by the seven carriers that have released first-quarter results were up 22 percent, ASX-Alphaliner said.

-- Contact Joseph Bonney at jbonney@joc.com.