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 $
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 -
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
Consistent with the three Taiwan listed liners' revenue, OOCL's 2Q revenue dropped both QoQ and YoY. Among the routes, Transpacific underperformed being the only route with sequential drop in volume during 2Q 2025 on the Trump tariff. Transatlantic volumes accelerated to 20% year on year in 2Q 2025, from 8% year on year growth in 1Q 2025, along with a sequential increase in freight rates.
Taiwan-listed container liners reported a 14% month-over-month rebound in June revenue, outpacing the average China Containerized Freight Index (CCFI) rebound of 15% month over month. Analysts may have anticipated the liners' revenue to outperform the CCFI, given the clear evidence of a volume pickup during June. For the second quarter of 2025, revenue declined by 10% quarter over quarter, missing the typical seasonal uptick. This underperformance is attributed to the negative impact of the Tru
May revenue figures for Yang Ming and Wan Hai have also been released, and both operators have performed much better on a sequential basis than Evergreen. As a result, the combined May revenue of the three liner companies declined by just 3% month on month—an improvement over Evergreen’s 8% monthly drop.
Maersk and Hapag-Lloyd remain at the bottom of the carriers’ EBIT margin league table for the 5th consecutive quarter with their operating performance continuing to lag behind all of their main rivals. The 2 Gemini Cooperation partners’ heavy reliance on contract cargo and relatively low exposure on the Transpacific market, coupled with their high operating cost base have continued to weigh down on their financial performance.
Taiwanese shipping lines saw a reversal in their monthly revenue, rising 6% month-on-month in January after six consecutive months of decline. Freight rates appear to have improved sequentially, as the CCFI overall index increased by 1% over the same period. However, the bulk of the revenue growth likely stemmed from volume, with preliminary port throughput data indicating a robust uptick in January.
Maersk reported a 59% increase in full-year profits in 2024 but continues to lag behind industry peers in financial returns, EBIT margin, and volume growth. Although Maersk recorded its third-best annual performance in company history, its financial returns (based on annualized RoE and RoA) slipped ranked to seventh since 2002, hindered by excessive cash reserves and underperformance in its logistics business segment. Maersk is sitting on net cash of $7.6bn as at end of 2024, equivalent to abou
ONE reported calendar 4Q 2024 (fiscal 3Q) revenue fell by 17%, while EBIT decreased by 44% quarter-over-quarter. The results were in line with COSCO’s preliminary profit guidance issued earlier on 10 January, with COSCO expecting larger QoQ falls than ONE. Hapag-Lloyd also reported its preliminary full-year and 4Q 2024 results that came in at the upper end of the earnings guidance provided in its last quarterly update. Hapag-Lloyd’s higher contract exposure in 2024 contributed to more stable ea