Maersk delivers Q1 volume growth across all segments, maintains full-year guidance 

GLOBAL – Maersk has delivered solid first-quarter results with EBIT of US$340 million, driven by strong volume growth across all segments, continuous operational improvements, and cost containment measures.  

For logistics operators and fresh produce supply chains, the company’s flexible network and cost discipline have proven resilient despite industry oversupply and Middle East disruptions. 

Ocean Segment Outperforms Market 

Ocean demonstrated robust operational delivery with significant loaded volume growth of 9.3% and high asset utilization of 96%. Stable operating costs, supported by efficiency efforts and reduced bunker costs, partly offset continued loaded freight rate pressure exerted by industry oversupply.  

EBIT for Ocean stood at US$192 million loss, an improvement from US$153 million loss in Q4 2025. 

The company stated: “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.” 

Logistics & Services and Terminals Drive Profitability 

Logistics & Services’ performance continued to improve with revenue up 8.7% and year-on-year EBIT margin improvement for the eighth consecutive quarters.  

The increase was mainly driven by improved performance within products such as Air and Middle Mile, continued cost discipline, and structural efficiencies. EBIT reached US$173 million. 

Terminals delivered another strong quarter with higher volume by 4.3% and resilient earnings. Revenue increased by 6.7%, with EBIT at US$436 million, up from US$394 million in Q4 2025. 

Strategic Investments Across Key Hubs 

In Q1 2026, Maersk ordered eight large vessels for delivery in 2029–2030 as part of its fleet renewal strategy.  

At Saudi Arabia’s Jeddah Islamic Port, APM Terminals will acquire a minority stake, while DP World will retain operational control.  

In Germany, APM Terminals and Eurogate agreed to invest €1 billion (US$1.07 billion) to expand the capacity of North Sea Terminal Bremerhaven from 3 million to 4 million TEUs. The company also inaugurated World Gateway II, a 1.1 million-square-foot facility in Singapore, to boost Asia-Pacific logistics capacity. 

Operational Takeaways 

For food logistics investors, Maersk’s Q1 performance demonstrates that disciplined cost management and network flexibility can offset freight rate volatility.  

The 9.3% volume growth in Ocean suggests robust demand for containerized perishable goods despite geopolitical disruptions. 

 Maersk maintains its full-year 2026 guidance, with global container market volume expected to grow by 2%-4%, while continuing to execute its US$1.0 billion share buy-back programme. 

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