Maersk reports Q1 2026 results

Maersk reported solid Q1 2026 results, supported by volume growth across Ocean, Logistics & Services and Terminals, alongside operational improvements and cost discipline.

A.P. Moller – Maersk posted EBIT of USD 340 million for the quarter, while EBITDA stood at USD 1.8 billion. The company said performance was achieved despite continued geopolitical uncertainty, market volatility and pressure on freight rates from industry overcapacity.

Ocean volumes increased by 9.3%, outperforming the market, while asset utilisation reached 96%. However, freight rates remained under pressure, affecting revenue and earnings in the segment. Ocean reported EBIT of USD -192 million for the quarter.

Logistics & Services recorded revenue growth of 8.7%, supported by improved performance in areas including Air and Middle Mile, as well as continued cost discipline and structural efficiencies. The segment posted EBIT of USD 173 million.

Terminals continued to deliver resilient performance, with volumes rising by 4.3% and revenue increasing by 6.7%. Revenue per move also improved by 3.4%, supported by better rates, foreign exchange effects and terminal mix. Terminals reported EBIT of USD 436 million.

Vincent Clerc, Chief Executive Officer at Maersk, said, “We’ve seen strong demand across most regions this quarter, supporting robust volume growth in our three business segments. In Ocean in particular, market volatility remains high and industry oversupply continues to put pressure on rates. In this environment our disciplined focus on cost management contributes to resilient performance.”

He added, “At the same time, our flexible Ocean network continues to prove its value as a true gamechanger, lowering our Ocean unit cost by 7% even as the Middle East conflict disrupted supply chains. We also continue to see profitability momentum in Terminals and most parts of Logistics & Services. This performance strengthens our competitiveness and our ability to support customers reliably through continued uncertainty in the global environment.”

During the quarter, Maersk ordered eight 18,600 TEU dual-fuel vessels for delivery in 2029–2030 as part of its fleet renewal strategy. The company also continued investments across logistics and terminals, including warehouse automation, terminal expansion projects and port infrastructure developments in Brazil, Vietnam, Mexico, Saudi Arabia and Germany.

Maersk maintained its full-year 2026 guidance, with underlying EBITDA expected between USD 4.5 billion and USD 7.0 billion, and underlying EBIT projected between USD -1.5 billion and USD 1.0 billion. The company continues to expect global container market volume growth of 2% to 4% in 2026.