Container carrier profits soar on record volumes

04 Sep 2024 CW Team

McCown suggested that profit for the current quarter might also show a "material increase" due to the sustained strength in the international goods trade market. The container shipping industry, which handles 80 per cent of global merchandise trade, had experienced a boom during the pandemic due to high consumer demand and supply chain disruptions caused by Covid-19. However, the sector had recorded collective losses by the final quarter of 2023.

According to McCown, shipping lines are once again benefiting from favourable supply and demand conditions, with profits rebounding, though still far below the levels seen during the pandemic. Capacity had tightened due to Houthi attacks in the Red Sea, which forced vessels to take longer routes around southern Africa, pushing up spot container rates and contributing to port congestion.

Despite these challenges, global volumes reached a record high last quarter of 46.4 million units, measured in 20-foot containers, surpassing the previous record of 46.2 million units from the second quarter of 2021, according to data from Container Trades Statistics Ltd cited by McCown. Demand has been particularly strong in the US, where retailers and importers are stocking up amid concerns over potential new tariffs on Chinese goods and the possibility of a dockworkers' strike at East and Gulf Coast ports. McCown warned that a strike, particularly at key ports, could severely disrupt container networks for major carriers and have far-reaching consequences beyond US-related trade lanes.

It was reported that the global container shipping industry saw profits soar to over $10 billion in the second quarter, driven by record volumes and rising freight rates following Red Sea diversions, according to a recent analysis. Net income for major container carriers, including Denmark?s A.P. Moller-Maersk A/S and China?s Cosco Shipping Holdings Co., almost doubled from the first quarter and surpassed the $8.88 billion figure from the second quarter of 2023, as noted in a report released by industry expert John McCown. McCown suggested that profit for the current quarter might also show a material increase due to the sustained strength in the international goods trade market. The container shipping industry, which handles 80 per cent of global merchandise trade, had experienced a boom during the pandemic due to high consumer demand and supply chain disruptions caused by Covid-19. However, the sector had recorded collective losses by the final quarter of 2023. According to McCown, shipping lines are once again benefiting from favourable supply and demand conditions, with profits rebounding, though still far below the levels seen during the pandemic. Capacity had tightened due to Houthi attacks in the Red Sea, which forced vessels to take longer routes around southern Africa, pushing up spot container rates and contributing to port congestion. Despite these challenges, global volumes reached a record high last quarter of 46.4 million units, measured in 20-foot containers, surpassing the previous record of 46.2 million units from the second quarter of 2021, according to data from Container Trades Statistics Ltd cited by McCown. Demand has been particularly strong in the US, where retailers and importers are stocking up amid concerns over potential new tariffs on Chinese goods and the possibility of a dockworkers' strike at East and Gulf Coast ports. McCown warned that a strike, particularly at key ports, could severely disrupt container networks for major carriers and have far-reaching consequences beyond US-related trade lanes.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Infrastructure Urban

09 Jan 2026

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Infrastructure Urban

09 Jan 2026

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..