The year 2024 was highly rewarding for the container shipping industry, marked by a surge in profits. Global demand for shipments rose between 6% and 30%, fuelled by post-pandemic economic recovery and the expansion of e-commerce. This growth led to increased revenues for most companies, which also benefited from rising transport rates, particularly on transpacific routes and those between Asia and Europe. Tensions in the Red Sea played a crucial role in the sector's performance. Attacks on commercial vessels forced many companies to reroute their shipping lanes, resulting in longer delivery times and higher operational costs. However, this crisis also led to a rise in freight rates, partially offsetting the increase in expenses.
An analysis of the results from the main companies that disclosed their earnings shows that Danish firm Maersk reported a net profit of $6.09 billion, marking a 56% increase from 2023, with a turnover of $55.5 billion. French company CMA CGM saw its revenue grow by 38.5% in the third quarter, reaching $15.8 billion, with an EBITDA of $5 billion. Chinese firm Cosco also recorded significant growth, with a net profit of $6.7 billion and revenue of $17.1 billion.
German company Hapag-Lloyd generated an EBITDA of $5 billion and total revenue of $20.7 billion, while HMM ended the year with a net profit of approximately $2.6 billion and an operating margin of 30%. In the East, Taiwanese Evergreen Line experienced a revenue increase of 109.8% in the third quarter, reaching $4.77 billion, while Chinese Yang Ming hit $2.2 billion, marking a 102.9% rise. Finally, Israeli company Zim reported annual revenue of $5.16 billion and a net profit of $373 million in the second quarter, whereas One registered an annual turnover of $13 billion.
Beyond geopolitical tensions, several other factors impacted the sector, including port strikes in Europe and North America, which caused shipment delays, fluctuations in fuel prices that directly affected operational costs, and adverse weather conditions such as low water levels in the Panama Canal and the Rhine, which disrupted maritime traffic. Sanctions on Russia also altered global trade routes, necessitating new logistical strategies.
Looking ahead, 2025 appears to be a year of both challenges and opportunities. Key risks include overcapacity due to the arrival of new vessels ordered during the post-pandemic boom, macroeconomic uncertainties linked to inflation and global trade policies, new environmental regulations requiring investments to reduce carbon emissions, and the impact of new strategic alliances such as the Gemini Cooperation and the Premier Alliance, which will reshape market dynamics.
