COSCO concluded the 1H 2024 interim reports for the publicly listed carriers
with its EBIT earnings of $566m for its container shipping business for a margin
of 25%, down from the 32% margin in the same quarter last year due mainly to
higher unit costs during 2Q 2023. Average freight rates were 13% higher for
COSCO against the CCFI’s 53% gain, while container volumes increased marginally
by just 1%.
Aggregated revenues of the 12 main listed carriers increased by 10% YoY while
volume increased 8