Comment / OX: Box line numbers make Mærsk look worse – yet Gemini partner Hapag on track 

ID 320504308 © Zolak Zolak | Dreamstime.com

Following Q2 24 reporting from several container shipping lines – interims from Israel’s ZIM just out* – we hear the pressure is rising at Mærsk in Copenhagen. Let’s see how long it takes before shareholders lose patience.  

(*Very strong on all counts.) 

If we now play the Q2 Ebitda-per-teu game, as we preliminarily did with available data last week, Maersk’s $227/teu, CMA CGM’s $331/teu and ONE’s $387/teu compare with Hapag-Lloyd’s $323/teu, as implied in the German carrier’s numbers disclosed on ...