China’s largest container shipping line saw massive gains in revenue and profits in 2024.

Cosco Shipping Holdings reported operating revenue of $33.29 billion in 2024, a rise of 33.29% from the previous yr.

The world’s fourth-largest container carrier (OTC: CICOF) said earnings before interest and taxes (EBIT) totaled $9.79 billion, a rise of 90.74% yr over yr.

Net profit soared by 95% to $7.75 billion, while net profit attributable to shareholders was $6.87 billion, a rise of 105.78% from the previous yr.

Lots of the most important shipping lines in 2024 saw remarkable gains in revenue and profits due to durable consumer demand in the US, and the Red Sea crisis which led carriers to divert vessels away from the region on longer, costlier routes that helped absorb capability and push up rates.

But Costco is facing serious obstacles within the U.S., from trade tariffs and proposed port fees on Chinese ships which could add tens of hundreds of thousands of dollars to operating costs.

Cosco is a component of the Ocean Alliance with Orient Overseas Container Line of Hong Kong, which it owns; CMA CGM of France; and Taiwan’s Evergreen Marine.

Find more articles by Stuart Chirls here.

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