Carriers had the same strong Q2 tailwind.
Freight rates rose.
Demand held up.
Average container-shipping operating margin reached 11.2%.
But one carrier reached 26%.
Another made just 1.7%.
Maersk Ocean moved from -2.3% to 8.9% in one quarter.
Same freight cycle.
Very different results.
So what actually decides who makes the most money?
Here are 5️⃣ signals behind the gap:
1️⃣ Trade mix changes the result
ZIM’s total Q2 volume grew just 3%.
But its Pacific volume rose from 354K to 426K TEU.