On June 4, Dafei group released its first quarter results of 2021. According to the disclosure, the total revenue of the company in the current period was US $10.072 billion, up 49.2% year on year; EBITDA was US $3.185 billion, up 227.2% year on year; The EBITDA rate increased by 16.2 percentage points to 29.7%; The group's net profit rose from US $48 million in the same period of the previous year to US $2078 million, up 4229% year on year; Net liabilities decreased by $1.2 billion to $15.7 billion from December 31, 2020.
It is also understood that Dafei group will achieve a net profit of US $1.755 billion in 2020. Rudolph sad, CEO of Dafei group, commented on the first quarter performance that under the severe pressure of global supply chain, the complementarity between the shipping services provided by Dafei group and the logistics service solutions provided by Jihua logistics is particularly important. He further predicted that the demand for transportation of consumer goods would continue throughout the year.
In the shipping sector, total revenue increased by 57.4% to US $8.59 billion, and EBITDA increased by 273.1% to US $2.975 billion. In other words, the EBITDA rate increased by 19.4% to 34.6%.
It is worth mentioning that, benefiting from the strong demand, Dafei completed 5.5 million TEUs in the first quarter, a year-on-year increase of 10.7%. Revenue per TEU was $1574, up from $1120 a year earlier.
In terms of logistics sector, Jihua logistics achieved a revenue of US $2.14 billion in the first quarter, a year-on-year increase of 25%; The profit before interest, tax, depreciation and amortization was US $172 million, an increase of 25.5% year on year; The EBITDA rate was flat at 8% compared with the same period last year.
Dafei said it will continue to increase investment in shipping and logistics assets and consolidate its financial structure. In fact, Dafei confirmed in its financial report that it had ordered 22 new container ships in April 2021, including 6 13000teu container ships, 6 150000teu container ships and 10 5000TEU container ships. Among them, the first two are powered by LNG, while the 5000TEU container ship is mainly powered by ultra-low sulfur fuel. The ships will be delivered between 2023 and 2024.
In addition, Dafei announced that it will deploy six new 150000 teulng powered ships on the route from China to the west coast of the United States by the end of 2022, and the first ship will join in October 2021. In terms of containers, Dafei said that in the past year, the group added 330000teu, an increase of 8.1%.
Looking ahead, Dafei Group expects that the demand for transportation of consumer goods will continue to increase since last summer, and this trend will continue until the second half of 2021. In the current environment, the group's performance in the second quarter will be at least as good as that in the first quarter.
Maersk's EBITDA reached $4 billion in the first quarter
Record profit in single quarter
Maersk released its first quarter results for 2021. Although COVID-19 is still continuing, the global supply chain is seriously frustrated, but the market demand continues to rise. Affected by this, the company's performance started very strongly in 2021, and all business sectors such as shipping, port services and logistics achieved high revenue and growth.
In the first quarter, earnings before interest, tax, depreciation and amortisation (EBITDA) increased to $4 billion from $1.5 billion in the same period last year, and earnings before interest and tax (EBIT) increased to $3.1 billion from $552 million, while revenue increased by 30% to $12.4 billion. The performance benefited from higher volume growth, freight rate growth and lower fuel prices, with volume growth of 5.7%. The shipping business's EBITDA was $3.4 billion, up from $1.2 billion in the same period in 2020, with revenue increasing from $7.2 billion to $9.5 billion.
Forecast for 2021: mainly driven by the growth of China's exports to the United States (with the highest growth in the first half of the year), shipping business is expected to keep in line with the growth of global market demand in 2021, and the growth is expected to increase from 3-5% to 5-7%.
Herbert's profit soared 47 times in the first quarter!
Continue to book ships and maintain market position
According to Hapag Lloyd's financial report for the first quarter of 20201, the company realized depreciation and amortization (EBITDA) of about US $1.9 billion during the period; EBIT is about $1.5 billion; Net income was about $1.5 billion. In the first quarter, net profit surged by 47 times, and Herbert, the world's fifth largest container shipping giant, will continue to buy ships and build containers, continue to expand transportation capacity, and maintain its market position.
Rolf habben Jansen, chief executive of Herbert, said that at the beginning of this year, Herbert benefited from strong market demand and higher spot freight rates. However, due to the continuous serious congestion of some major ports in the world and the difficulty in alleviating the shortage of containers, the freight volume of Herbert in the first quarter of this year was slightly lower than that of the same period last year, about 2.975 million TEU, a year-on-year decrease of 2.6%.
Herbert optimistic forecast, 2021 annual EBITDA and EBIT will significantly exceed last year's level. Kepler cheuvreux, an analyst, predicts that Herbert's annual EBITDA will reach 5.4 billion euros, double the 2.7 billion euros in 2020.
COSCO Haikong's net profit in the first quarter was 15.452 billion yuan
6.7836 million TEU, up 20.99%
COSCO Haikong released its financial report for the first quarter of 2021, during which the company achieved an operating revenue of 64.843 billion yuan; The net profit attributable to shareholders of listed companies was 15.452 billion yuan, an increase of 5200.62% over the same period last year; The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was 15.408 billion yuan, an increase of 15.332 billion yuan year on year. Among them, the revenue of centralized transportation business reached 63.522 billion yuan, an increase of 82.25% over the same period of last year, and that of terminal business reached 1.753 billion yuan, an increase of 12.23% over the same period of last year.
Taiwan's EVA, Yangming and Wanhai shipping companies also achieved the best quarterly results in history. EVA shipping made a profit of NT $36.1 billion (about US $1.3 billion) in the first quarter, compared with a loss of NT $422 million in the same period last year.