The global container shipping industry saw a sharp collapse in profitability in Q4 2025, signaling a return to pre-pandemic margin pressures and wiping out the recovery gains made during 2024.
Combined EBIT for major carriers fell to $392 million, down from $7.6 billion in Q4 2024 — a drop of roughly 95 per cent.
On a broader scale, estimated global industry EBIT declined from $16.7 billion to just $860 million.
No carrier exceeded $500 million in EBIT. Evergreen led with $265 million, followed by HMM at $220 million.
Meanwhile, major players posted losses, with COSCO reporting $343 million and Maersk at $153 million, highlighting widespread market weakness.
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Only three carriers achieved positive unit profitability (EBIT/TEU): HMM ($216), ZIM ($159), and Hapag-Lloyd ($50).
The rest recorded losses per container, led by COSCO at $47/TEU, with ONE, Maersk, and Yang Ming also negative.
The data points to a sector under pressure from overcapacity and weaker freight rates. After the exceptional highs of the pandemic era, the industry appears to be normalising, though with profitability now thin or negative for most carriers.
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