Container Carriers See Profit Decline in Q2 2025

Today, we take a look at the latest financial results in the container shipping industry.

The theme: “Major Carriers Report Profit Decline in Q2 (April–June)”

US Tariffs Disrupt Supply and Demand

Since spring 2025, U.S. tariff policies have had a major impact.

In April, tensions between the U.S. and China caused a temporary drop in cargo volumes.

However, after a bilateral agreement, demand surged suddenly, and North America-bound freight rates spiked.


As carriers resumed services and capacity increased, rates fell again in June.

This quarter saw dramatic supply-demand swings in a short time.

Financial Results by Carrier

Maersk saw rising volumes, but declines in freight rates and a lack of one-time gains led to shipping division profits being halved.

Still, European services, storage revenue, and lower fuel prices provided some support.


CMA CGM maintained steady volumes, but lower average freight rates led to a 20% drop in EBITDA.

Hapag-Lloyd also faced Gemini Alliance transition costs.


Asian carriers struggled across the board. Evergreen, Yang Ming, Wan Hai, HMM, and Japan’s ONE all saw profit declines.

In particular, Yang Ming reported a 93% drop in net profit, Wan Hai 91%, and ONE 89%.

Full-Year Outlooks Still Upgraded

Still, some companies remain profitable on a half-year basis.

Maersk raised its adjusted EBITDA guidance to $8–9.5 billion, while ZIM and Hapag-Lloyd lifted their lower-end forecasts.


However, significant full-year profit declines are still expected.

Impact on Logistics Operations

When tariffs disrupt the supply-demand balance, freight rates fluctuate rapidly, making budgeting and procurement planning difficult for shippers.

In this case, a brief demand surge made rate volatility even more pronounced.


Depending on booking timing and contract terms, some shippers likely experienced notable cost swings.

Outlook

Looking ahead, supply and demand will continue to be influenced by tariff developments.

North America-bound freight rates remain low, and new vessel overcapacity remains a concern.


Carriers will likely respond with blank sailings and slow steaming.

Shippers should avoid reacting solely to spot prices and focus on long-term contracts and diversified routing.

Whether this pattern continues or stabilizes remains to be seen.