Maersk, the Danish shipping giant, has reported a significant rise in its full-year earnings guidance for 2026 following strong container demand. The company’s second-quarter profit before interest, taxes, depreciation and amortisation (EBITDA) stood at $3 billion, surpassing forecasts of $2.12 billion according to Maritime News. Maersk now expects underlying EBITDA between $10.5 billion and $12.5 billion this year, up from a previous estimate of $8 billion to $10 billion.
In a statement, CEO Vincent Clerc attributed the robust performance to “strong broad-based demand” from Asia over the past two years, driven by resilient Chinese exports. The CEO highlighted that global container trade has exceeded expectations in the second quarter, with growth elsewhere offsetting a 40% contraction in Middle Eastern imports.
Port Congestion and Freight Rates
The surge in demand has led to severe port congestion, particularly at Shanghai, where waiting times to berth have reached up to 12 days. Clerc noted that these bottlenecks, rather than the Middle East conflict, are driving freight rates higher as chronically underinvested landside infrastructure struggles to cope with increased traffic across Northern Europe, South America, West Africa, and China.
According to MarineLink, shipping companies like Maersk are benefiting from these higher rates, which have been fuelled by gridlocked ports and strong Chinese export growth. Clerc expressed that the Asia-Europe trade corridor through the Suez Canal is experiencing significant disruptions due to congestion, though he did not provide details on how this might affect future operations.
Despite the positive outlook, Maersk remains cautious about the ongoing Middle East conflict, which has pushed its Ocean division’s operating costs up by 19% year-on-year. The average bunker price has risen 44%, but the company mitigated these impacts through optimised fuel consumption and commercial measures.
Outlook and Competitors
Maersk is not alone in benefiting from improved market conditions. German rival Hapag-Lloyd also recently raised its outlook, despite a $600 million hit from the Middle East crisis, according to Maritime Professional. Both companies are navigating these volatile markets with increased optimism for the third quarter of 2026, particularly given China’s continued export activity.
This market strength is reminiscent of the pandemic period, when supply-chain disruptions tightened capacity and boosted industry profits. However, shippers should remain vigilant as geopolitical tensions could still pose challenges in the global shipping landscape.