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Between the lines: First-quarter carrier results show scale of cash windfall

Carrier profitability hits all-time high, with operating profit in the first three months of 2022 eclipsing combined first-quarter totals of the past decade

Lines’ level of profitability is not driven by a volume growth, as apart from Zim, all other carriers that report global volumes either recorded sharp on-year declines, or in the case of Hapag-Lloyd, a marginal 0.4% increase. The  ebit figures are more so a reflection of the current freight rate environment

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