14 Apr Shipping shows the best result in Q1
In the first quarter of this year, the shipping industry demonstrated the best efficiency since the 2008 global financial crisis. At the same time, an equally significant amount of income is forecasted in the second quarter.
The best performance in shipping since the crisis
$ 17,461 a day – this is the average for the first quarter 2021 of the ClarkSea index (weighted average profit of tankers, bulk carriers, container ships and gas carriers, which are operated by Clarkson Research Services). This is the best average for the first quarter since 2008, before the collapse of Lehman Brothers.
In January-March 2021, the index, considered as a key barometer of shipping, increased, in particular, due to revenues in the sectors of container ships and medium bulk carriers.
A gradual regeneration in trade, and also the upside potential from port congestion and logistical disruptions, has resulted in the container shipping rate index reaching its highest level since 2005, while the bulk carrier sector has stable grain volumes, stronger imports from China, increased demand for coal and port congestion resulted in the highest average quarterly earnings in 10+ years.
At the beginning of the second quarter, the ClarkSea index was already $ 20,759 per day, which is 36% more than at the beginning of the year.
Macroeconomic incentives in the form of various programs and progress in vaccination, as well as potential growth in some sectors (even with regard to tankers, which are currently in trouble), can all support the further growth of the index.
Remind that the last quarter of last year, 2020, was the most profitable for the container shipping in the entire history of the industry.