Trade

Container Carrier Profits Soar on Record Volumes, Higher Rates

Report shows expected $10.2 billion second-quarter profit
US demand is solid but worries about a port strike are rising

A container ship at the Port of Felixstowe. — A container ship at the Port of Felixstowe.
Photographer: Chris Ratcliffe/Bloomberg

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By Brendan Murray

September 1, 2024 at 11:07 AM UTC

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The global container shipping industry saw profits surge to more than $10 billion in the second quarter on record volumes and rising freight rates after Red Sea diversions, according to a new analysis.