The Maersk Alfirk, left, and Colorado Categorical container ships docked on the Port of Los Angeles in Los Angeles, California, US, on Thursday, April 24, 2025.
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Danish transport big Maersk on Thursday posted stronger-than-expected first-quarter working revenue however warned that the present stage of U.S.-China commerce tariffs may limit world container market volumes.
The corporate, broadly considered a barometer of world commerce, reported preliminary underlying earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) of $2.71 billion for the primary three months of the 12 months.
That is up 70% from $1.59 billion over the identical interval a 12 months earlier and above the $2.57 billion anticipated by analysts in an LSEG ballot.
Maersk saved its 2025 revenue steering unchanged at between $6 billion and $9 billion however stated world container market quantity development in 2025 had been revised to -1% to 4% “given the elevated macroeconomic and geopolitical uncertainty.” Maersk had beforehand forecast container quantity development of 4% in 2025.
The outcomes come because the transport trade continues to navigate a posh tariff panorama sparked by U.S. President Donald Trump’s administration.
Trump’s present coverage consists of 145% import duties on merchandise from China, prompting Beijing to hit again with tariffs on U.S. items.
“The primary quarter, truly, was a continuation of the very robust demand and really sturdy economic system we had all through final 12 months. And so, on that robust demand, we have been capable of generate these actually strong outcomes,” Maersk CEO Vincent Clerc informed CNBC’s “Squawk Field Europe” on Thursday.
“These outcomes have been additionally the fruit of robust preparation for what would come forward. We knew it was going to be bumpy and certainly following April 2 announcement, issues acquired a bit extra bumpy,” he continued.
“The important thing factor for us is that as it’s right this moment, that is largely a China-U.S. difficulty and it has not but contaminated any of the opposite commerce lanes – both from different origins and locations with the U.S. or China and even for what the remainder of the world trades collectively,” Clerc stated.
‘A variety of volatility forward’
On container market volumes, nevertheless, Clerc stated the dimensions and fast escalation of U.S.-China tariffs has led to a pointy correction.
China-U.S. container market volumes have dropped between 30% to 40% in April as prospects take a wait-and-see method to the tariff scenario, the corporate stated.
“Except we discover a resolution there then the present stage of tariffs is solely prohibitive on either side for it to essentially present some restoration. So, fairly a focused influence thus far,” Clerc stated, including that he expects “quite a lot of volatility forward.”
Disruption within the Crimson Sea is anticipated to proceed all through the remainder of the 12 months, Maersk stated.
Shares of the corporate traded 2.5% decrease shortly after the opening bell.
