Xin Hua Cai Jing·2025-11-16 16:58Core Viewpoint - Major international shipping companies have reported an increase in cargo volume but a decrease in profits for the third quarter, leading to adjustments in future performance expectations across the industry [1][5]. Financial Performance - Maersk Group reported third-quarter revenue of $14.2 billion, a year-on-year decrease of 9.9%, with net profit down over 60% [3]. - CMA CGM Group's revenue for the third quarter was $14.04 billion, with a net profit decline of 72.6% compared to the previous year [3]. - COSCO Shipping Holdings (中远海控) saw a 20.42% year-on-year decline in revenue for the third quarter, with net profit down 55.14% [4]. - Hapag-Lloyd reported a revenue of $5.43 billion for the third quarter, with a significant net profit drop of 85.5% to $160 million [4]. Cargo Volume and Market Dynamics - Despite profit declines, shipping companies experienced growth in cargo volumes, with Maersk reporting a 7% increase in loading volume and a stable capacity utilization rate of 94% [4]. - Hapag-Lloyd's transport volume increased by 9.1% in the first three quarters, while COSCO Shipping Holdings reported a 6.01% increase in container shipping volume [4]. Reasons for Profit Decline - The primary reasons for profit shrinkage are attributed to falling freight rates and rising cost pressures, including fuel, labor, and port fees [4]. - The shipping market's supply-demand dynamics have led to a decrease in market freight rates, impacting operational efficiency [4]. Industry Outlook - Shipping companies are adopting a cautious outlook and adjusting their performance targets, with Maersk revising its 2025 financial guidance to reflect an expected global container market growth rate of approximately 4% [5]. - Hapag-Lloyd has lowered its profit forecast for 2025, indicating a shift in focus from "price determines revenue" to "efficiency determines revenue" due to anticipated capacity increases and weakening market demand [6].