Danish shipping and logistics group Maersk delivered a strong second-quarter performance, with revenue rising 20% year on year to US$15.8 billion, compared with US$13.1 billion in Q2 2025.
EBITDA increased to US$3.0 billion from US$2.3 billion, while EBIT nearly doubled to US$1.6 billion from US$845 million. The Group’s EBIT margin reached 10%.
Following the strong quarterly performance, Maersk raised its full-year 2026 guidance, with underlying EBITDA now expected at US$10.5–12.5 billion, compared with the previous forecast of US$8–10 billion. Underlying EBIT guidance was also increased to US$4.5–6.5 billion from US$2–4 billion.
Ocean business rebounds
Maersk’s Ocean business recorded a 23% increase in revenue during Q2. Loaded volumes grew 4.1%, driven primarily by exports from Asia, while the average loaded freight rate increased 22%.
Vessel utilisation remained high at 96%. Ocean EBIT rose sharply to US$935 million from US$229 million in Q2 2025, marking a significant recovery from the US$192 million EBIT loss recorded in Q1 2026.
Maersk attributed the improvement to strong demand, tighter capacity and increasingly unbalanced global trade flows. Port congestion across Europe, the Middle East, East Coast South America and West Africa also contributed to tighter market conditions.
Middle East disruption alters trade flows
Disruptions to traffic through the Strait of Hormuz reshaped shipping patterns during the quarter. Gulf-bound cargo was redirected through alternative ports and inland transportation routes, while affected Ocean capacity was redeployed to other growing trade lanes.
Demand remained particularly strong for imports into Africa, North America and Latin America, while exports from the Far East, especially China, continued to perform strongly.
Maersk CEO Vincent Clerc said the second quarter demonstrated the heightened volatility in global trade, with strong Far East demand since 2024 creating increasingly unbalanced trade flows and pressure on landside infrastructure.
Logistics & Services delivers higher profit
Maersk’s Logistics & Services business also improved its profitability. Revenue increased 15% year on year, while EBIT rose to US$217 million from US$175 million a year earlier.
The segment’s EBIT margin reached 5.1%, improving by 0.5 percentage points sequentially. Growth was led by landside operations, including landbridge solutions connecting ports across the Gulf region.
Forwarding also benefited from higher Air and Project Logistics volumes, while the Solutions business recorded positive contributions from new and existing contracts.
Terminals maintains strong performance
Terminals volumes increased 2.2% during the quarter, while revenue grew 11%. Revenue per move increased 7.1%, supported by higher rates and additional storage revenue.
Terminals EBIT stood at US$458 million, compared with US$461 million in Q2 2025 and US$436 million in Q1 2026. Maersk said the underlying performance was strong enough to offset the impact of the Middle East conflict.
Maersk expands port infrastructure
Maersk continued investing in port and logistics infrastructure during the quarter.
In Brazil, APM Terminals inaugurated its US$350 million terminal at Suape, described by the company as the first fully electrified container terminal in South America. Maersk’s Logistics & Services division also added a distribution and warehousing facility at Suape.
In Vietnam, APM Terminals and Hateco Group signed an agreement with Da Nang City to develop and operate the Lien Chieu Container Terminal. The project represents an investment of more than US$1.7 billion.
Maersk expects global container market volume growth of around 4% for the full year. The company said its 2026 earnings outlook remains sensitive to freight rates, container volumes, bunker prices and foreign exchange movements.
Maersk is also continuing its US$1 billion share buyback programme.
