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RCL sees volumes dip in Q2 due to China ‘zero-Covid’ policyRCL sees volumes dip in Q2 due to China ‘zero-Covid’ policy

Regional Container Line’s (RCL) volumes hit by China’s Covid policies in Q2, but profits soar.

Marcus Hand, Editor

August 22, 2022

1 Min Read
RCL's Jaru Bhum at sea
RCL Jaru BhumPhoto: RCL

Thai-listed RCL reported a first half profit of THB15.58bn ($433.78m) a jump of 154% compared to the same period in 2021.

“Key improvement aspects of the first half of this year were freight rates which improved by 79%, and a volume growth of 4%,” RCL said.

However, in Q2 China’s “zero-Covid” policy hit volumes for the intra-Asian and regional feeder line with strict lockdowns in major Chinese cities hitting exports and resulting an 8% decline in volumes for RCL.

“Nevertheless, RCL managed to maintain the freight rate at the level only one percent below the Q1 period through its resiliency,” the company said. RCL reported a profit of THB7.36bn, 131% up the same quarter in 2021, however 11% lower than Q1 2022.

Looking ahead RCL said the container sector would continue to be challenged by disruptions and uncertainties.

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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