Cruising for a bruising

摘要

Last year was an exceptional year for the top 20 ocean carriers, as shown in the table. Most reported record operating profits and nobody lost money. Mady Al Mady, ceo of United Arab Shipping Company (UASC), summed up this position well: 'Frankly speaking, last year was our best year ever, and we wish every year was like it. While we budgeted for a net profit of USS11.2 million, we ended up doubling our 1999 result.'