The global container shipping industry saw profits soar to over $10 billion in Q2 2024, nearly doubling from Q1. Major players like Maersk and Cosco benefited from increased demand, with global volumes reaching an all-time high of 46.4 million containers. Freight rates surged due to Red Sea route diversions, while U.S. import demand grew amidst tariff concerns. Although profits have rebounded, they remain below pandemic levels, according to industry analyst John McCown.