PRESS ROOM

According to reports in the trade media, renowned industry analyst John McCown, says that the container shipping industry has experienced a remarkable turnaround in the third quarter of 2024, with total net income soaring to USD26.8 billion, marking a staggering 164% increase from the previous quarter.

this made interesting reading for the U-Freight Group, with our comprehensive portfolio of international container shipping services for both LCL and FCL import and export cargoes, as the article spotlights how that impressive growth trend, which began in the first quarter of 2024, has been primarily fuelled by capacity tightening in the Red Sea region and strong global demand.

In his Q3 financials report, McCown reports that compared to the same quarter last year, net income skyrocketed by 856%, representing a USD24.0 billion increase. This dramatic upswing follows a period of declining earnings that lasted for six consecutive quarters after the industry’s peak earnings of USD63.1 billion in Q2 2022.

More details can be seen on the following websites:

https://gcaptain.com/container-shipping-industry-sees-exponential-profit-surge-driven-by-red-sea-situation/?subscriber=true&goal=0_f50174ef03-e06ee733e8-170325302&mc_cid=e06ee733e8&mc_eid=b74726cc12

https://tinyurl.com/2c5dw37v

https://splash247.com/liner-shipping-firmly-on-track-for-its-most-profitable-year-outside-the-covid-era/

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