Taiwanese liners' July monthly revenue in aggregate was up by 10% month on month against CCFI's 2% monthly on month rise. The revenue is still down by 32% year on year. As read through to the entire industry, the two consecutive months of sequential growth in revenue give may have giving the liners a chance to see sequential growth in earnings, which is also what ONE has guided in its recent results report. ONE is guiding $362mn as EBIT for calendar period 3Q 2025 against $38mn in 2Q 2025 and $
Another wave of bottom fishers entered the market, this time focusing on EC2510, which has now become one of the most hotly contested freight futures contracts, closing with open interest at 56,602 contracts—the third highest after EC2404 and EC2406. Nevertheless, EC2510 gave back most of its earlier gains by the market close, though it still ended the day up 1.34%. The Shanghai Containerized Freight Index (SCFI) reported a 4.4% weekly decline to 1,961, which translates to around $3,250 per FEU
Maersk reported better-than-expected earnings at the group level, with the Terminals segment delivering record results on strong volume growth. The Terminals segment generated twice as much EBIT as the liner segment. Maersk stock listed in Copenhagen reached 2 years high. Group underlying EBIT reached $818 million for the second quarter, a 8.2% increase year-on-year and significantly ahead of the $700-800 million consensus estimate. Maersk raised its full-year underlying EBIT guidance to $2.0 -
Despite a decline in prices for most freight futures contracts listed in Shanghai, the market remained resilient, as today’s drop occurred on much lighter volume than yesterday. Both EC2510 and EC2512 closed near the day’s highs. Traders continue to show strong conviction that spot freight rates will not fall below $2,100 per FEU through June 2026, with a seasonal uptick expected in December potentially testing the $2,900 per FEU level. In the physical market, the liners are mostly offering $28
Contrarian traders entered the market this morning, driving up the prices of all futures contracts except for the EC2508. Although most contracts surrendered the majority of their gains by the close, all long-dated contracts still finished higher on the day. Furthermore, open interest rebounded to 78,000 from 74,000 yesterday. The EC2510 alone has an open interest of 54,361 contracts, representing approximately $500 million in value. This indicates that there is no shortage of bullish sentiment
Container carrier remain mired in an earnings downturn with EBIT earnings falling by 80 to 90% since the recent peak in the 3rd quarter of 2024. 2nd quarter 2025 EBIT at both CMA CGM and ONE have retreated to levels last seen in 3rd quarter of 2023, with ONE’s EBIT margin barely above breakeven. Results released by the carriers so far have disappointed relative to expectations. ONE slashed its half-year and full-year EBIT guidance by 20% and 43% respectively. CMA CGM did not issue formal guidan
MSC is believed to have fixed the 8,204 teu TSC DORADO and TSC LONDON that were released from detention in Malta in July after idling for the last 3 years. They will join MSC after completing drydock in Turkey. The removal of these 2 ships from the idle list has pushed the idle fleet to its lowest level in over 2 years. MSC has also taken the 8,827 teu VALIANT on 4 August for new 5 year charter on private terms after the ending its last charter to Hapag-Lloyd. It was part of a forward charter de
New SCFI rate assessments for 40’ containers are now available, with the assessments showing a steep decline in Med rates with FEU rates already falling behind North Europe. The removal of 9 SeaLead ships with an average capacity of 5,700 teu on the China-Med 5CX service will affect rates to the East Med and Black Sea as the service is focused on Egypt and Turkey but is not expected to impact rates to the West Med. North Europe rates also remain under pressure with several carriers offering sp
Global container throughput growth have been revised upwards and is expected to grow by 2.6% in 2025, in line with the IMF’s revised global GDP growth outlook released last week due to cargo front loading during the first half of this year, lower effective US tariff rates, improved financial market and government fiscal stimulus by several key countries. Despite the revision, the US tariffs have already spurred higher inflation and slower job growth which will lead to slower growth in the 2nd h
Register Free Trial Revised US tariffs that will take effect on 7 August will have a negative impact on overall global demand even though the average tariff rates were lower than initially announced on 2 April. Although global container growth projections have been revised upwards, over-supply pressure persists with freight rates remaining under pressure after the SCFI extended its losing streak to its 8th consecutive week. Further rate declines are expected throughl October, with prospects for