Maersk said second quarter container volumes were 4.2% higher from the same period a year ago, and raised its forecast for full-year earnings.
A.P. Moller-Maersk A/S, parent company of the world’s second-largest shipping line, reported revenue grew 2.8% in the quarter ended June 30 to $13.1 billion from $12.8 billion a year ago. Operating earnings (EBIT) fell to $845 million from $963 million.
Ocean revenue rose to $8.57 billion from $8.37 billion. EBITDA was $1.44 billion from $1.41, and EBIT came in at $229 million, down from $470 million.
Copenhagen-based Maersk (OTC: AMKBY) cited geopolitical uncertainty and continued rate pressure for weaker profit, but noted continued strong results in marine terminals, volume growth in ocean shipping, and increased profitability in logistics & services. It said all segments were benefiting from continued operational improvements and lower costs.
Resilient market demand outside of North America led Maersk to raise its full-year 2025 financial guidance for pre-tax earnings (EBITDA) to $8 billion to $9.5 billion from $6 billion to $9 billion, and EBIT to $2 billion to $3.5 billion from unchanged to $3 billion. It left capital expenditures for 2024-2025 and 2025-2026 unchanged at $10 billion to $11 billion.
Global container volume has been revised to between 2% and 4% from -1% and 4%. Disruptions in the Red Sea from renewed threats against shipping Houthi militia is expected to last through 2025.
“We have had a strong first half of the year, driven by consistent follow-through on our operational improvement plans and the successful launch of the Gemini Cooperation [with Hapag-Lloyd],” said Maersk Chief Executive Vincent Clerc, in the release “Our new east-west network is raising the bar on reliability and setting new industry standards. It has been a key driver of increased volumes and solid delivery of our ocean business. Even with market volatility and historical uncertainty in global trade, demand remained resilient.”
Ocean shipping saw volumes grew 4.2% from a year ago, mainly driven by exports out of Asia. Freight rates improved in the quarter, while still being under pressure both sequentially and compared to 2024. The Gemini tie-up that began in June saw schedule reliability above the 90% target.
Find more articles by Stuart Chirls here.
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