Major shipping carriers saw year-over-year revenue plunge at 52% in Q3

Posted on December 4, 2023   |  

Major shipping lines disclose substantial year-over-year revenue declines in Q3 2023, with the smallest contraction noted at -51.8%.

Following the peak periods of 2021-2022, Q3 2023 witnessed a decline in EBIT/TEU, returning to levels akin to pre-pandemic years.

Noteworthy performers include COSCO leading with the highest EBIT/TEU at 289 USD/TEU, trailed by Hapag-Lloyd at 64 USD/TEU, and HMM at 52 USD/TEU.

Maersk reports the least negative EBIT/TEU at -4 USD/TEU, while ZIM records a significant negative EBIT/TEU of -2,625 USD/TEU, alongside an EBIT loss of $2.28 billion. 

ZIM clarifies that a substantial portion of this loss is due to a "non-cash impairment loss of USD 2.06 billion."