In Q2, the world’s leading ocean container carriers posted substantial operating profits, though market conditions have resulted in varying performance across companies.
Maersk Ocean shifted from a Q1 loss of $161 million to a profit of $470 million in Q2. Similarly, Hapag-Lloyd saw its earnings before interest and taxes (EBIT) improve to $485 million.
However, these positive results were outpaced by Asian carriers like Evergreen, which reported operating profits of around $1 billion, according to data from ocean freight rate intelligence platform, Xeneta.
One factor driving the disparity is the higher exposure of Asian carriers to Far East export trades, where freight rates have surged in 2024.
“The biggest increases in freight rates have been seen on Far East routes, benefiting carriers with a strong presence in those markets,” a Xeneta spokesperson explained.
Looking ahead, shippers face a complex market landscape. Xeneta advises shippers to thoroughly understand market trends on their specific port-to-port routes before entering long-term contract negotiations, as market movements could vary greatly.
Shippers are also encouraged to benchmark carriers on their trades, as market dynamics affect each carrier differently.
This task may become even more challenging in 2025, with the formation of new alliances and service agreements set to further complicate the landscape.
Additional market factors include tightening carbon emissions regulations, schedule reliability, equipment availability (FEU, TEU, and reefer containers), and potential disruptions such as strikes on the US East and Gulf Coasts. These elements are crucial considerations for shippers navigating the evolving market.
