Topic of the week: Maersk Navigates Turbulent Waters with Strategic Optimism
Despite a sharp decline in ocean freight rates and a year-over-year drop in earnings, Maersk has surprised the market by upgrading part of its full-year earnings guidance, signalling confidence in its operational resilience and strategic initiatives.
Maersk reported third-quarter revenue of $14.2 billion, down from $15.8 billion in the same period last year. EBITDA fell to $2.7 billion from $4.8 billion, while EBIT declined to $1.3 billion from $3.3 billion. The EBITDA margin dropped to 19.5% from 36%, and the EBIT margin to 6.2% from 25.5% year-over-year.
In a surprising move, the company raised the lower bound of its full-year earnings forecast. EBITDA is now expected to range between $9.0 and $9.5 billion, up from the previous $8.0 to $9.5 billion. EBIT guidance was also revised upward to $3.0 to $3.5 billion, compared to the earlier range of $2.0 to $3.5 billion.
Maersk’s CEO Vincent Clerc emphasised the company’s ability to execute and adapt amid volatile market conditions. The newly launched East-West network has been a standout performer, delivering industry-leading reliability, higher volumes, and lower operational costs. The terminals division posted another record quarter, driven by strong volume growth, while logistics and services continued to improve profitability.
Container volume grew by 7%, significantly outpacing the market average of 3.7%. East-West trades saw the strongest improvement at 9.6%, followed by North-South traffic at 4.4% and intra-regional growth at 5.4%. However, ocean freight rates fell by 30.7%, steeper than the industry-wide decline of 24.9%.
Maersk’s ability to grow volumes and maintain operational efficiency despite falling rates and economic uncertainty reflects a strategic pivot toward integrated logistics and network optimisation. The company’s revised guidance suggests confidence in its diversified business model and long-term customer relationships.
As global trade continues to face headwinds from tariffs and macroeconomic instability, Maersk’s performance may serve as a bellwether for the broader container shipping industry. Investors and stakeholders will be watching closely to see if the company can sustain its momentum into Q4 and beyond.
