Maersk posts loss in ocean segment, plans to cut around 1,000 jobs

Maersk said its 2025 full-year financial results show a strong performance in all its businesses despite lower freight rates and an oversupply of capacity in the ocean segment. 

On the Ocean side of the business, global container volume growth is expected to be between 2.0% and 4.0% in 2026 and Maersk expects to grow in line with the market. A statement explained that the ranges reflect the “expected overcapacity in the shipping industry and scenarios of a gradual Red Sea reopening in 2026”. 

In 2025, Maersk said its Ocean business "drove increased competitiveness through high asset utilisation and volume growth in line with the market at 4.9%, while profitability declined due to lower freight rates caused by supply overcapacity". 

In Q4 2025, Maersk’s Ocean segment saw volume growth of 8.0%, but the company cited continued market pressure on freight rates that drove its earnings into "negative territory". The company posted a loss in earnings before income tax for the segment of US$153M, down by more than US$700M from the previous quarter’s positive earnings of US$567M and down by around US$1.5Bn from the same quarter’s profit in 2024 of US$1.6Bn.

Overall, the Copenhagen-headquartered shipping and logistics groups noted that volume growth, operational execution and proactive cost measures helped companywide results reach the top-end of its financial guidance for the year.

Full-year revenue stood at US$54.0Bn, EBITDA was US$9.5Bn, and EBIT was US$3.5 Bn, the company reported.

Terminals revenue increased by 20%, propelled by record-high volumes from strong demand, improved rates and higher storage revenue. This underpinned the delivery of the “best financial results on record”. Terminals accelerated growth by developing new sites, modernising existing facilities, and securing key concessions across strategic locations.

Maersk’s Logistics and Services business continued to invest and to improve profitability through the year. 

“Despite this progress, the segment is not yet at full potential, and further improved performance remains a priority,” a statement by Maersk noted. 

Maersk chief executive Vincent Clerc said, “We delivered a strong performance and high value for our customers in a year where supply chains and global trade continued to be reshaped by evolving geopolitics. Across our operations, volumes grew, and asset utilisation was very high. Our Ocean business set a new benchmark for reliability, Terminals delivered record results, and Logistics and Services continued to advance. The year highlighted the need to strengthen and modernise global supply chains and critical infrastructure, further emphasising the relevance of our strategy. Our key to success remains to grow in close partnership with our customers, leveraging our unique asset footprint, and a continuous drive for operational excellence and cost discipline.”

Delving into the Q4 2025 results, financial highlights for its Ocean business include: strong volume growth of 8.0%, although continued market pressure on freight rates drove EBIT into negative territory at US$-153M, down from US$567M in the previous quarter. It was US$1.6Bn in Q4 24. For Terminals, revenue grew 13.0% from Q4 2024, and volumes jumped 8.4%, driven by strong demand across the Americas and Europe. 

Looking ahead, a share buy-back programme is to be initiated with US$1.0Bn to be executed over 12 months, while corporate overhead costs are to be reduced by US$180M. Out of approximately 6,000 corporate positions, around 15% – or approximately 1,000 positions – will be closed. The required notification and consultation processes have been initiated, Maersk said.