Why Are Carrier Forecasts Rising as Rates Start to Turn?

Forecasts are rising. Rates are weakening. What is the market really telling us?

Hapag-Lloyd has raised its 2026 earnings forecast.

Maersk did the same earlier.

Matson also expects a much stronger second quarter.

Yet spot freight rates are beginning to lose momentum.

WCI fell another 4% this week, marking a second consecutive weekly decline.

The signals are not contradictory.

They reflect two different points in the market cycle.

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The first half was stronger than expected

Hapag-Lloyd now expects full-year EBITDA of $2.7bn–$3.7bn.