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The Maersk Alfirk, left, and Colorado Express container ships docked on the Port of Los Angeles in Los Angeles, California, US, on Thursday, April 24, 2025.
Bloomberg | Bloomberg | Getty Images
Danish delivery large Maersk on Thursday posted stronger-than-expected first-quarter working benefit however warned that the present degree of U.S.-China industry price lists may limit international container marketplace volumes.
The corporate, broadly thought to be a barometer of world industry, reported initial underlying profits sooner than pastime, tax, depreciation and amortization (EBITDA) of $2.71 billion for the primary 3 months of the yr.
That’s up 70% from $1.59 billion over the similar duration a yr previous and above the $2.57 billion anticipated by way of analysts in an LSEG ballot.
Maersk stored its 2025 benefit steerage unchanged at between $6 billion and $9 billion however mentioned international container marketplace quantity enlargement in 2025 have been revised to -1% to 4% “given the increased macroeconomic and geopolitical uncertainty.” Maersk had prior to now forecast container quantity enlargement of 4% in 2025.
The effects come because the delivery trade continues to navigate a posh tariff panorama sparked by way of U.S. President Donald Trump’s management.
Trump’s present coverage comprises 145% import tasks on merchandise from China, prompting Beijing to hit again with price lists on U.S. items.
“The first quarter, actually, was a continuation of the very strong demand and very robust economy we had throughout last year. And so, on that strong demand, we were able to generate these really solid results,” Maersk CEO Vincent Clerc instructed CNBC’s “Squawk Box Europe” on Thursday.
“These results were also the fruit of strong preparation for what would come ahead. We knew it was going to be bumpy and indeed following April 2 announcement, things got a bit more bumpy,” he persevered.
“The key thing for us is that as it is today, this is mostly a China-U.S. issue and it has not yet contaminated any of the other trade lanes – either from other origins and destinations with the U.S. or China or even for what the rest of the world trades together,” Clerc mentioned.
‘A large number of volatility forward’
On container marketplace volumes, alternatively, Clerc mentioned the dimensions and speedy escalation of U.S.-China price lists has ended in a pointy correction.
China-U.S. container marketplace volumes have dropped between 30% to 40% in April as shoppers take a wait-and-see solution to the tariff state of affairs, the corporate mentioned.
“Unless we find a solution there then the current level of tariffs is simply prohibitive on both sides for it to really show some recovery. So, quite a targeted impact so far,” Clerc mentioned, including that he expects “a lot of volatility ahead.”
Disruption within the Red Sea is predicted to proceed during the remainder of the yr, Maersk mentioned.
Shares of the corporate traded 2.2% decrease at round 9:45 a.m. London time.
