COPENHAGEN – The Danish group A.P. Moller – Maersk A/S in the third quarter of 2025, recorded an operating profit above expectations despite a decline in revenue and net profit, the Group revised its profit forecast for the entire year upwards, motivated by a solid quarter and an increase in volumes.
Maersk, which is considered by sector analysts a barometer of global trade, recorded robust demand for containers, driven in particular by exports from China, despite concerns about the braking effect of tariffs imposed by the US administration in its attempt to rewrite the global economic order. The Danish shipping and logistics group, however, signaled concerns related to oversupply in the shipping market as a risk to profitability.
Maersk announced a gross operating profit (EBITDA) fell 44% on an annual basis in the third quarter, standing at 2.69 billion dollars, above the 2.58 billion dollars expected by analysts while the operating profit of 1.28 billion fell 61.2% and the net profit of 1.10 billion dollars (-64.4%).
“All the talk about de-globalization, is not what is happening now” – Maersk’s CEO, Vincent Clerc, told the media, as reported by Reuters, dismissing fears of a radical change in global trade models and noting an increase in the number of Chinese companies exporting their products.
HIGH DEMAND AND FUTURE UNCERTAINTY
“The scenario for the next three years regarding the shipping sector will be characterized by high demand, but also a large order book and great market uncertainty,” Clerc stated.
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Maersk’s shares recorded a 4% decline. Investors expected a larger upward revision of Maersk’s forecast for the entire year, rather than a narrow range, said Mikkel Emil Jensen, an analyst at Sydbank.
Maersk raised the lower end of its net profit forecast for the entire year, now forecasting an underlying profit before interest, taxes, depreciations and amortizations (EBITDA) between 9 and 9.5 billion dollars, compared to previous forecasts of 8-9.5 billion dollars. Global demand for containers grew between 3% and 5% on an annual basis in the third quarter, Maersk said, which now forecasts 4% growth in 2025, up from the previous 2%-4% forecast published in August.
Imports were driven by Europe, Africa, Latin America and Central-Western Asia, while volumes to North America contracted, particularly shipments from China to the United States, Maersk said.
Clerc expressed caution regarding the fourth quarter, stating that a larger number of new container ships could further lower shipping rates, for Maersk already fallen below the break-even level.
