The global container shipping volume reached a historic peak in the second quarter of 2024 – 46.4 million TEU.
The profit of international container lines during the same period exceeded 10 billion dollars, Bloomberg reports. Container carriers increased their revenues due to the rise in transport volumes and the surge in freight rates after changing their routes.
The net profit of the largest global shipping lines, including AP Moller-Maersk and COSCO Shipping Holdings, nearly doubled compared to the first quarter of this year and exceeded 8.88 billion dollars in the second quarter of 2023.
“In the last quarter of 2023, the shipping industry recorded losses, and now shipping lines are once again benefiting from positive supply and demand factors, rebuilding profits that are still significantly lower than the peak values observed during the COVID-19 pandemic,” analysts note.
Currently, there is also a decrease in container volumes, as tensions in the Red Sea are forcing ships to choose routes that avoid this region. This, in turn, contributed to the increase in spot rates for containers and the increased burden on some major ports.
According to Container Trades Statistics, the global transport volume in the second quarter of 2024 reached a historic level of 46.4 million TEU, surpassing the previous record of 46.2 million TEU from the same period in 2021.
Are you interested in reading such news? Subscribe to stay updated!
📧 [email protected]
☎ +48 882 921 294
Aleja Grunwaldzka 212,
80-266 Gdańsk, Poland
