COSCO Profit Jumps Most in Two Years as Turmoil Supports Rates

(Bloomberg) — Cosco Shipping Holdings Co. earnings jumped the most in two years as persistent geopolitical disruptions rerouted trade routes, tying up more of its vessels for longer while container rates surged.

Third-quarter net income rose 81% to 17.2 billion yuan ($2.6 billion), with transpacific sailings the biggest growth driver, according to a Thursday filing.

Cosco’s strong showing foreshadows a bumper season for some of its global peers. Earnings estimates for Europe’s A.P. Moller-Maersk A/S and Hapag-Lloyd AG have ticked up since July.

Japan’s Nippon Yusen KK’s raised outlook surpassed analyst expectations earlier on Thursday, while Taiwan’s Evergreen Marine Corp. is set for its most profitable quarter since 2024 when it reports next month.

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