On May 7, Maersk announced its first-quarter 2026 financial results. Benefiting from strong volume growth across all business segments, continuous operational improvements, and effective cost control, it achieved an EBIT of USD 340 million in the first quarter.
Among these, the Ocean business reported an EBIT loss of USD 192 million, lower than the USD 743 million in the same period last year and the USD 153 million loss in the fourth quarter of 2025. However, Maersk’s Ocean business volume grew by 9.3% year-on-year. Maersk stated that operating costs remained stable, supported by efficiency improvements and lower fuel costs, partially offsetting the ongoing freight rate pressure caused by industry overcapacity.
Maersk’s Logistics business performance continued to improve. During the reporting period, revenue increased by 8.7% year-on-year; EBIT was USD 173 million, up 21.8% year-on-year.
Furthermore, Maersk’s Terminals business once again delivered a strong quarterly performance, with an EBIT of USD 436 million, up 10.7% year-on-year; volume increased by 4.3% year-on-year, and revenue per natural box rose by 3.4%. Maersk stated that this performance was primarily driven by improved freight rates, favorable currency impacts, and terminal portfolio optimization, but was partially offset by lower storage revenue.
Regarding the performance, Maersk analyzed that against a backdrop of highly volatile geopolitical environment, container trade demand further increased in the first quarter of 2026, benefiting from strong Chinese exports, with export growth accelerating compared to the previous quarter. The outbreak of the Middle East conflict had a limited impact on demand and financial performance in the first quarter. Although Ocean business market share increased, overall revenue was slightly lower than the same period last year due to declining freight rates. This impact was partially offset by revenue growth in the Logistics and Terminals businesses. Overall, Maersk is well-positioned to cope, and its financial performance has not been materially affected.
Maersk CEO Vincent Clerc stated: “Demand remained strong in most regions in the first quarter, supporting solid volume growth across our three business segments. In the Ocean business, market volatility remains high, and industry overcapacity continues to put pressure on freight rates. In such an environment, our strict cost management has helped the business demonstrate good resilience. At the same time, despite supply chain disruptions caused by the Middle East conflict, we still achieved a 7% reduction in Ocean unit costs. Additionally, the Terminals business and most of the Logistics business continued their profitable momentum. The first quarter performance has strengthened our competitiveness and our ability to support customers stably and reliably in an uncertain global environment.”
Against this backdrop, Maersk’s full-year 2026 financial guidance remains unchanged. It expects global container market volume to grow by 2% to 4%, and Maersk will grow in line with the market.
