Maersk’s Ocean segment reported negative $161m EBIT for 1Q 2024, lagging well
behind its peers which had all turned in positive results. Maersk fared poorly
on its operating metrics with OPEX rising faster than its peers while volumes
grew at a slower rate, resulting in smaller reductions in unit OPEX. Maersk Line
also reported lower sequential average revenue gains compared to 4Q 2023, due to
its higher contract mix and aggressive spot rate pricing.
Maersk’s management raised the lower end of