Net income fell to 5.9 billion yuan ($863 million), with revenue down 11% to 51.8 billion yuan, according to Wednesday’s filing.
The company cited weaker freight rates and the ongoing war in the Middle East as significant industry challenges, with the transpacific route experiencing the sharpest growth decline.
Cosco’s results reflect broader pressures facing global shipping lines as geopolitical tensions and market volatility continue to impact freight demand and profitability.
With massive overcapacity, which shipping lines are best positioned to survive the 2026 market reset?
Amidst a profit crash, can the shipping industry escape its historic boom-and-bust cycle?
Will nearshoring and new trade pacts offset the historic slump in transpacific shipping?
How is the Middle East conflict permanently reshaping global maritime trade routes?
Are falling freight rates a false dawn for importers facing rising tariffs and surcharges?
How will rerouting ships for security undermine the industry's long-term climate goals?