This corporate story tracks a broad earnings rebound across container shipping. Alphaliner data reported by Global Maritime Hub put the average operating margin for leading carriers at 11.2% in the second quarter of 2026, with no line recording an operating loss during the period.
Wan Hai led the group with an operating margin of 26% and topped the ranking for a fifth consecutive quarter. Evergreen followed at 18.4%, ahead of COSCO at 14.2%. Maersk climbed to 8.9% after its rates increased 22% from a year earlier.
Maersk reported group earnings before interest and tax of USD 3 billion, about USD 900 million above analyst expectations. Its shipping margin ranking rose to sixth, the highest position for the company since 2023. Hapag Lloyd still recorded a loss across the first six months despite returning to profit in the second quarter.
Spot exposure helped carriers capture the rate increase. Maersk had 56% of its product mix tied to spot rates, while rates rose 28% on East West routes and 21% on North South routes. Congestion and route disruption supported the quarter, but the same exposure can compress margins if freight rates ease.