Container shipping’s combined EBIT plummeted from $5.47 billion to $1.35 billion in Q1 2026, as freight rate declines of up to 26 per cent drove several of the world’s largest carriers into negative territory.
The data, drawn from Sea-Intelligence’s Sunday Spotlight Issue 766, covers all carriers that have publicly reported Q1 2026 results, excluding HMM, which has yet to file, OOCL, which does not publish quarterly EBIT, and CMA CGM, which has ceased disclosing the metric altogether.
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Per-TEUs’ profitability has deteriorated sharply. COSCO and ONE were the only lines to record positive EBIT per TEUs, at $169 and $23, respectively. Maersk, Hapag-Lloyd and ZIM all fell into negative territory, posting -$30, -$54 and -$21 per TEU.
The losses are not being driven by weak demand; most carriers reported year-on-year volume growth. The real pressure is coming from freight rates, which dropped between nine and 26 per cent year-on-year across all reporting lines.
Higher operating costs have compounded the impact, tipping several carriers from marginal profitability into loss-making territory for the quarter.
The results represent a marked contrast to the windfall conditions carriers enjoyed in recent years and signal a more difficult trading environment as the industry heads deeper into 2026.
For more information:
Sea-Intelligence – https://www.sea-intelligence.com/
