- Major shipping lines reported a combined 2024 EBIT of $27.3 billion, significantly lower than the record-breaking 2021-2022 period.
- 2024 profitability surpasses pre-COVID years, exceeding the combined EBIT of 2019, 2020, and 2023.
While 2024 profitability is well below the $200 billion EBIT seen in 2021-2022, the shipping industry remains highly profitable compared to pre-pandemic years. The $27.3 billion EBIT recorded by reporting carriers outperforms the total profitability of 2019, 2020, and 2023 combined.
Factoring in non-disclosing players such as MSC, PIL, and CMA CGM, an extrapolated market-wide estimate suggests total industry profitability at $60 billion for 2024.
EBIT per TEU Trends Highlight Strong Performance
The EBIT per TEU data highlights how individual carriers fared in 2024. While Maersk’s $192 EBIT/TEU is well below 2021-2022 highs, it remains stronger than most pre-pandemic years. Meanwhile, ZIM ($674/TEU), HMM ($622/TEU), Hapag-Lloyd ($215/TEU), and OOCL ($346/TEU) recorded their best non-pandemic profitability in the last decade. For ONE Line ($300/TEU), no pre-pandemic reference exists.
Despite weaker freight rates and market normalization, shipping lines continue to generate substantial profits, reflecting resilient demand and improved cost management across the industry.
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Source: Sea-Intelligence
