Net profit exceeded 10 billion, profits skyrocketed, and the three container heroes collectively exploded in Q2

The second quarter results of 2026 for Taiwan's three major container shipping companies have been announced one after another. The single-quarter profits of Evergreen Line, Wan Hai Line and Yang Ming Marine Line all improved significantly compared with the same period last year, among which Wan Hai and Yang Ming achieved substantial year-on-year net profit growth. The recovery in cargo volume, the restoration of freight rates and the early start of the peak season are the main factors driving the improvement of the performance of the three companies in the second quarter. However, judging from the overall performance in the first half of the year, there are still obvious differences in the profits of the three shipping companies. It remains to be seen whether the market recovery can continue into the second half of the year.

Evergreen Shipping's consolidated revenue in the first half of the year was NT1.672 billion, a year-on-year decrease of 2.43%; net profit after tax was NT.337 billion, a year-on-year decrease of 36.48%, and earnings per share was NT.24. Although profits in the first half were still lower than the same period last year, there were strong signs of recovery in the second quarter.

In the second quarter, Evergreen Shipping's consolidated revenue reached NT5.161 billion, a year-on-year increase of 21.60%; after-tax net profit was NT.034 billion, a year-on-year increase of 46.33%. Earnings per share were NT.41, ranking first among the three companies in single-quarter profit. Evergreen said that global trade demand remains resilient, and the peak shipping season is ahead of schedule, which has promoted the recovery of cargo volume and freight levels on major routes from Asia to North America and Europe, driving profit growth in the second quarter. For the second half of the year, Evergreen will focus on the situation in the Middle East, terminal consumption and changes in global transport capacity supply and demand, and flexibly adjust route layout and empty container scheduling according to market conditions.

Wanhai Shipping's consolidated revenue in the first half of the year was NT.541 billion, a year-on-year increase of 6%; the net profit after tax attributable to the parent company was NT.206 billion, a year-on-year increase of 96%, and earnings per share was NT.84.

In the second quarter, Wanhai Airlines’ operating revenue was NT.9 billion, with net profit after tax attributable to the parent company of NT.535 billion. Since the net profit in the same period last year was only about NT.077 billion, the year-on-year increase this quarter was as high as about 972%, and earnings per share was NT.11, an increase of about 51% from the first quarter. Wan Hai believes that the current global demand for container transportation is still relatively active, SCFI remains relatively high, and the charter market also maintains a certain degree of popularity. At the same time, congestion at some major ports has not been completely alleviated, and the efficiency of towing and logistics links has been affected, further reducing the actual available transport capacity.

While profits are improving, Wan Hai continues to promote fleet renewal. In March this year, the company's board of directors approved a plan to purchase six new energy-saving ships, including two 9,200TEU methanol dual-fuel reserved ships and four 6,000TEU LNG dual-fuel container ships.

Yang Ming Shipping's consolidated revenue in the first half of the year was NT.584 billion, a year-on-year increase of 0.49%; net profit attributable to owners of the parent company was NT.169 billion, a year-on-year decrease of 18.17%, and earnings per share was NT.05.

In the second quarter, Yang Ming Shipping's consolidated revenue was NT.923 billion, a year-on-year increase of 18.78%; operating profit was NT.684 billion, a year-on-year increase of 45.71%; net profit attributable to owners of the parent company was NT.734 billion, a year-on-year increase of 482.02%, and earnings per share was NT.64. Compared with the overall performance in the first half of the year, the rebound in the second quarter is particularly obvious. Yang Ming said that factors such as changes in tariff policies and rising energy costs have released the demand for import bookings in Europe and the United States in advance, and the peak season effect has appeared in advance, which has provided support to market freight rates.

There are many common factors behind the improvement in second-quarter profits of the three shipping companies.

On the one hand, changes in U.S. tariff policies have prompted some companies to prepare goods in advance, and the demand for booking space on European and American routes has increased; on the other hand, the situation in the Middle East has led to detours on some routes, and rising costs such as voyage, fuel and insurance have provided certain support for freight rates. At the same time, port congestion and reduced efficiency in trailers and logistics also make it difficult for some of the new transport capacity to be fully converted into effective transport capacity. Therefore, although the global container fleet is still expanding, the combination of factors such as demand recovery, route detours, and port congestion have gradually tightened the market's effective transport capacity, driving freight rates to rebound, and ultimately passing on to shipping company profits.

Entering the third quarter, the traditional peak season has arrived, and the three shipping companies still hold relatively positive judgments on the market. However, there are still many variables in the market: the situation in the Middle East, US trade policy, fuel costs, new global shipping capacity, and congestion in Shanghai and major European ports, all of which may affect subsequent freight rates and shipping schedules.

For freight forwarding companies, what deserves more attention now is no longer "whether the peak season is coming", but whether the growth in cargo volume can be sustained, whether transportation capacity can be effectively released, and how long the disturbance factors in ports and routes will last. The simultaneous improvement of the second-quarter performance of the three major shipping companies indicates that the market has seen a certain degree of profitability recovery. However, how long this peak season can last still depends on the evolution of cargo volume, freight rates and the global supply and demand pattern of shipping capacity in the coming months.