CHINA's COSCO Shipping Holdings said last week the shipping industry will experience "profound changes in global cargo flow patterns" due to tariff- and trade-related policies after reporting strong profits in 2024.

COSCO said it will accelerate the scaled development of its dual-brand fleet, consisting of COSCO Shipping Lines and Hong Kong subsidiary Orient Overseas Container Line.

Container shipping demand growth is set to moderate this year, the carrier said, thanks to the combined effects of an easing of "global inflationary pressures and accommodative monetary policies in Europe and the United States."

The carrier, the fourth largest by tonnage, according to Alphaliner, said changes among the major container shipping alliances are expected to trigger increased competition this year.

Meanwhile, COSCO Shipping Ports said its 2024 net profit dropped by 4.8 per cent to US$309 million amid a challenging ports industry worldwide.

Revenue last year rose by 3.3 per cent to $1.5 billion over a year prior. Specifically, mainland segment recorded $719 million, up 1.8 per cent, Europe business gained 3 per cent to nearly $691 million.

Total throughput increased by 6.1 per cent year on year to 144 million TEU, while total equity throughput increased by 4.5 per cent to 45.32 million TEU, reports Hong Kong's The Standard.