If you've been following the container shipping earnings season, you've probably noticed something interesting: two carriers, same alliance, very different stories.
On August 13, both Maersk and Hapag-Lloyd dropped their Q2 numbers. And while both benefited from the same tailwinds – strong demand out of Asia, higher spot rates, and tight capacity – the gap between them was hard to miss.
Maersk: A Quarter to Remember
Let's start with the Danish giant. Maersk's Q2 revenue jumped 20% year-on-year to $15.8 billion. EBITDA climbed to $3.0 billion from $2.3 billion, and EBIT more than doubled to $1.6 billion. Net profit hit $1.26 billion, up from $586 million a year earlier.
The ocean business was the real engine. Revenue grew 23%, loaded volumes rose 4.1%, and average freight rates increased 22%. Vessel utilisation stayed high at 96%. And here's the kicker: ocean EBIT swung from a $192 million loss in Q1 to a $935 million profit in Q2.
Maersk CEO Vincent Clerc described the quarter as "another proof point of the new era of heightened volatility we have entered". But he also made it clear that volatility works both ways – and Maersk knows how to capture the upside.
The result? Maersk raised its full-year guidance for the second time this year, now expecting underlying EBIT of $4.5 billion to $6.5 billion.
Hapag-Lloyd: Recovery, But at a Cost
Now look at Hapag-Lloyd. The German carrier also had a much better Q2 than Q1 – group revenue rose 19% sequentially to $5.8 billion. EBITDA came in at $829 million, slightly above last year.
But the Middle East conflict took a heavy toll. Hapag-Lloyd took a roughly $600 million hit in the second quarter from higher fuel costs, insurance, storage, rerouting, and inland transport – all linked to the Strait of Hormuz disruption. Group EBIT fell to $176 million from $189 million, and group profit dropped to $83 million from $306 million a year earlier.
CEO Rolf Habben Jansen acknowledged the headwinds but noted that Q2 was still "significantly better" than Q1. The carrier also raised its full-year outlook in July, though it remains cautious.
The Gemini Factor: Where Both Carriers Shine
Here's where the story gets more interesting. Despite the profit gap, both carriers are part of the Gemini Cooperation – and that alliance is quietly delivering something the rest of the industry can't match.
According to Xeneta's Q2 schedule reliability data, Gemini averaged 69% on-time performance during the quarter, with average delays of just 1.1 days. The Ocean Alliance, by comparison, managed 43%.
Maersk's Clerc said during the Q2 earnings call that Gemini's performance in the first six months "far exceeded expectations". He called it "a new way of operating" that has been "truly excellent for us". Since its launch, Gemini has achieved its 90% on-time performance target every single month. "In the long run, this will be a game-changer," Clerc said.
Hapag-Lloyd echoed that confidence, noting that its Gemini network "remained resilient and continued to outperform the market, setting the industry benchmark for schedule reliability".
What This Means for Shippers
For cargo owners, the Q2 numbers tell a clear story. The market is volatile, costs are rising, and not every carrier is equally positioned to handle the pressure. Maersk's ability to navigate the chaos and deliver a 10% EBIT margin speaks to the value of scale, integration, and operational discipline.
But here's the other lesson: schedule reliability matters more than ever. When port congestion is at a four-year high and vessels are delayed across the board, having a partner whose alliance actually delivers on its promises makes a real difference.
This Is Where Experience Pays Off
At Xiamen AE Global, we've been moving freight through exactly this kind of market since 2018. We're a government-licensed company with IATA, FIATA, FMC, and NVOCC credentials – which means when the market shifts, we have the global network and the carrier relationships to keep your cargo moving.
We work with over 100 overseas agents worldwide. That network gives us real-time intelligence on what's happening at each port, on each service, and with each carrier. When Gemini delivers 69% on-time performance while others struggle at 43%, we know which strings to pull – and when to pull them.
1. Technology That Cuts Through the Noise
We've invested heavily in technology that gives our clients actual transparency – not just a tracking number, but real insight into what's happening with their shipments. When disruptions hit, we alert you immediately and present options. Reroute through a different service? Switch to an alternative carrier? Hold at origin until things stabilise? We've got the data and the experience to make those calls quickly.
2. Local Knowledge, Global Reach
Based in Xiamen – one of Asia's busiest port cities – we combine the global reach of an IATA and FIATA-approved forwarder with the local knowledge of a partner who's been shipping all kinds of goods for over a decade. We've moved over 12,000 TEUs in a single year with a 98.6% on-time delivery rate for our SME clients. That's not luck – it's relentless execution and a network that doesn't fall apart when the market gets complicated.
The Bottom Line
Maersk's Q2 performance shows what's possible when you have the scale, the relationships, and the operational discipline to capture opportunity in a volatile market. Hapag-Lloyd's recovery – despite a $600 million headwind – shows the resilience of the Gemini network.
For shippers, the lesson is simple: in a market this unpredictable, the difference between a smooth supply chain and a costly headache often comes down to one thing – who you've got on your side.
At Xiamen AE Global, we don't just move boxes. We help our clients navigate complexity – whether that's understanding which alliance is delivering on its promises, securing space on the right service, or simply making sure your cargo gets where it needs to go, on time and on budget.
Because when the market is this volatile, you don't need a spectator. You need a partner who's already in the game.
Ready to work with a logistics partner who actually understands the market? Contact Xiamen AE Global today – and let's keep your supply chain moving, no matter what comes next.
