TEU freight turnover in the second quarter exceeded the historical maximum

The world cargo turnover of containers reached a historical maximum in the II quarter of 2024 – 46.4 million TEU.

The profit of international container lines for the same period exceeded 10 billion dollars, writes Bloomberg.

For example, container carriers increased their profits thanks to the growth of cargo volumes and a jump in freight rates after changing the route to bypass South Africa.

Net income of the world’s largest lines, including AP. Moller-Maersk and COSCO Shipping Holdings, almost doubled compared to the first quarter of this year and exceeded the figure of $8.88 billion in the second quarter of 2023.

Read also: Global container market in 2024. How leading companies are overcoming challenges.

“The shipping industry reported a loss in the last quarter of 2023, and now shipping lines are once again benefiting from positive supply and demand factors, recovering profits that are still well below the peaks seen during the COVID-19 pandemic,” it said. analysts

A reduction in container volumes is also currently being recorded, as tensions in the Red Sea are forcing ships to take detours. Accordingly, this helped lift spot container rates and contributed to congestion at some major ports.

According to Container Trades Statistics, worldwide cargo traffic reached an all-time high of 46.4 million TEUs in the second quarter of 2024, surpassing the previous record of 46.2 million TEUs for the same period in 2021.

It will be recalled that USM also talked about the prospects of the container market of Ukraine. In particular, about the peculiarities of transshipment of containers during the war.