Schrijf je in voor onze dagelijkse nieuwsbrief om al het laatste nieuws direct per e-mail te ontvangen!

Inschrijven Ik ben al ingeschreven

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

Container shipping company Maersk reports losses

In the last quarter of 2023, container shipping company A.P. Moller-Maersk suffered a significant gross loss of $537 million, compared to a profit of $5.1 billion in the same period the previous year. Although the company still posted a profit of $3.9 billion for the full year of 2023, it describes this as achieving 'solid financial results under difficult conditions'. However, these figures represent a substantial drop from the record profit of $30.9 billion in 2022, resulting in a 13% drop in stock price.

Maersk warns of even gloomier figures in 2024, primarily due to the oversupply of shipping capacity in the liner market and the ongoing disruptions caused by Houthi attacks in the Red Sea. The forecast for the 'underlying ebit' for 2024 ranges from a loss of $5 billion to a break-even of $0. The 'underlying ebitda' is also expected to be between $1 and $6 billion, significantly lower than previous years. Although the 2023 revenue was much lower than in 2022, it remains higher than before the coronavirus pandemic.

CEO Vincent Clerc: '2023 was a transitional year after the extraordinary market caused by the pandemic. Despite significantly changed circumstances, we achieved solid financial results and are well positioned to manage the expected headwinds in 2024. By taking early and decisive measures to enforce strict cost control, we have adapted to the new reality. We need to see further progress in the logistics sector to meet our objectives, while we continue our transformation and strengthen our competitive position.

The current market remains one of robust volumes, but while the crisis in the Red Sea has led to immediate capacity constraints and a temporary increase in rates, ultimately the oversupply in shipping will lead to price pressure and impact our results. The ongoing disruptions and market volatility underscore the need for resilience in the supply chain and further confirm that Maersk's path to integrated logistics is the right choice for our customers to effectively manage these challenges.'

More information:
A.P. Moller-Maersk

Publication date: