TAIWAN’s Evergreen Marine Corporation has joined compatriot Asian lines in reporting a much weaker second quarter in 2025, compared to the same period in 2024 and the prior quarter.
And for the first half, revenue rose by just 1% to TWD 196.5 billion (USD 6.73 billion), while operating profit dropped by 10% to TWD 43.8 billion (USD 1.50 billion), and net profit reduced by 20% to TWD 39.2 billion (USD 1.34 billion), compared to H1 2024.
In 2Q 2025 operating profit fell from USD 1.002 million in 2Q 2024 to USD 615 million, while net profit dropped from USD 936 million to USD 504 million. Revenues slid 18.7% year-on-year.
Danish analyst Lars Jensen noted the stronger 2Q enjoyed by European carriers, Hapag-Lloyd’s volume up a very high 12.4% year-on-year, significantly above Maersk which grew 4.2%, CMA CGM declined -0.2% while Japan’s ONE grew 0.7%. According to Container Trade Statistics the global market grew 4.1%.
Mr Jensen also reported that Hapag’s freight rates declined -6.9%. Maersk was down -9.6%, CMA CGM’s revenue/TEU was down -1.3% and ONE was down -4.5%. The CTS global rate index was down -11.4%.
HMM and Yang Ming Line both reported depressed second quarters. ZIM is due to report this week.