AP Møller-Maersk ended 2025 with a warning sign for container shipping: despite increasing volumes handled, profitability deteriorated sharply, pushing the company to its worst performance in the last five years.
In terms of revenue, the group recorded US$53,988 million, a drop of 2.7% compared to 2024, but the heaviest decline occurred in results: net profit was US$2,915 million, around half of the previous year, with the operating margin (EBIT) falling to 6.5% (11.7% in 2024). The internal reading points to a clear change in the relationship between supply and demand in shipping, with “overcapacity” pushing freight rates down and exposing the fragility of margins in an increasingly competitive business. Maersk admits that the 2026 market will have “many headwinds”, in a context that combines geopolitical uncertainty, the risk of tariff wars and the gradual normalization of routes in the Red Sea, a return that, by shortening trips, returns effective capacity to the global fleet and tends to put even more pressure on prices.
On the operational side, the company ends the year with a fleet utilization rate of 94%, associated with its cooperation model (Gemini), but this did not prevent the maritime division from slowing down: the group estimates that the average freight price fell by 17% in 2025, penalizing the heart of the business. In this area, turnover fell to around 35,000 million dollars and EBIT fell to 1,400 million, with the margin falling to 4%.
Maersk’s response involves cost containment and structural adjustments. Among the measures announced is a 15% cut in the corporate team, around a thousand jobs, and an annual reduction in corporate costs estimated at 180 million dollars. In parallel, the company wants to reduce dependence on the spot market, seeking to reinforce the weight of longer duration contracts in its activity.
