Eng
The global container shipping industry is poised to make 2024 its third most profitable year in history, despite rising costs driven by geopolitical tensions and regulatory changes, according to figures shared by Alphaliner.
The ongoing hostilities in the Middle East have necessitated substantial route modifications, compelling carriers to divert vessels around the Cape of Good Hope. This rerouting has precipitated a near 20% increase in ton-miles year-on-year, consequently elevating expenses across multiple operational categories.
Alphaliner’s data reveal that Maersk burned 8.5 million tonnes of fuel in the first nine months of 2024, representing a 16% increase compared to the same period in 2023. The introduction of the EU Emissions Trading System (ETS) on 1 January has added a new layer of expense. Maersk, for instance, has already allocated nearly $130 million towards carbon offsets in 2024 – a cost entirely absent from the previous year’s financial landscape.
Despite facing major challenges stemming from geopolitical tensions and increased operating costs, the leading maritime carriers have delivered exceptional financial performance. Net profits of the leading shipping companies in 2024 are already higher than in 2020 and 2023, second only to the pandemic years of 2021–2022.
Source: trans.info