COSCO Shipping and Ocean Network Express See Profit Decline as Container Shipping Market Remains Sluggish

en.Wedoany.com Reported - The container shipping market remains sluggish, with major global liner companies recently reporting results that generally fell short of expectations. COSCO SHIPPING Holdings and Ocean Network Express have successively disclosed their financial data, showing a significant drop in profits.

COSCO SHIPPING Holdings' net profit for the first quarter of 2026 decreased by 49.75% year-on-year. The company stated that falling freight rates and weak demand were the main reasons. Although cargo volumes remained stable, the significant decline in average freight rates led to weakened profitability.

Singapore-headquartered Ocean Network Express announced its full-year results for fiscal year 2025, with net profit plunging 92% year-on-year. ONE pointed out that slowing global trade growth and overcapacity from new vessel deliveries have impacted the market, while rising operating costs have also added extra pressure.

Analysts believe the container shipping industry is undergoing a cyclical adjustment, and freight rates may continue to face downward pressure in the short term. The profit declines at the two major companies reflect the challenges facing the entire industry, and the market is watching to see if the next quarter can stage a bottoming-out rebound.

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