A.P. Moller-Maersk, the world’s second-largest container shipping company, raised its full-year 2025 earnings guidance on August 7, lifting its underlying EBITDA forecast from a range of $6-9B to $8-9.5B. The catalyst: a surge in container demand across Europe and other non-US markets that more than compensated for the decline in American imports triggered by ongoing tariff policies.
US import volumes have contracted as tariff uncertainty makes North American trade lanes less attractive. The company reported revenue growth of 2.8% in the second quarter, posting EBIT of $845 million as shipments to Europe and other regions picked up the slack.
CEO Vincent Clerc pointed to the resilience of non-North American demand as the key driver behind the upgraded outlook.
The company also revised its global container demand outlook upward, now projecting volume growth of 2-4% for 2025. The previous estimate had a range of -1% to +4%.
The catch: 2026 looks rougher
