- Major carriers reported mixed 2Q25 results, with Maersk, Hapag-Lloyd, and RCL showing revenue gains while others, including OOIL and Yang Ming Marine, saw declines.
- Rising costs and weaker freight rates pressured earnings despite higher container volumes for some carriers.
- Global containership fleet growth slowed to 4.1% in the first seven months of 2025, with scrapping expected to rise under stricter environmental rules.
- Freight rates diverged, with sharp declines on transpacific routes but relative resilience on Asia–Europe due to port congestion and capacity management.
Global container shipping markets are navigating a period of shifting trade policies and evolving demand patterns. With new tariff structures and investment-linked trade agreements shaping global flows, carriers are reporting varied financial outcomes. Investor confidence, however, has been supported by strong export growth from China and positive equity performance in shipping stocks, detailed in the latest Container Shipping Financial Insight published by Drewry.
Second-quarter results across the container shipping sector showed a mixed picture. Maersk reported stable freight revenue as higher volumes offset lower average rates, though rising operating costs and reduced gains from asset sales weighed heavily on earnings. Hapag-Lloyd and Regional Container Lines posted stronger year-on-year revenue, while OOIL experienced a decline despite volume growth on transatlantic and intra-Asia routes. CMA CGM recorded a slight dip in volumes and revenue, with EBITDA margins narrowing, while Taiwanese carriers, particularly Yang Ming Marine, reported notable weakness.
Fleet expansion has slowed this year, with global containership capacity rising 4.1% between January and July 2025, compared to 6.7% in the same period last year. Deliveries of new capacity continued, but scrapping activity remained limited, though expected to increase as older vessels face tighter environmental rules. At the same time, freight markets showed divergent trends. The Drewry World Container Index (WCI) declined steadily in the third quarter, with transpacific routes recording steeper losses compared to Asia–Europe, where congestion and capacity management helped maintain relative stability.
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Source: Drewry
