Rail traffic declines significantly, reaching 2021 levels; Maersk warns of global trade slowdown

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Shipping giant Maersk warns of sharp slowdown in global trade as it reports profit plunge

  • The world’s second-largest shipping company, often seen as a bellwether for global trade, posted a second-quarter profit before interest, tax, depreciation and amortization (EBITDA) of $2.91 billion.
  • This was well below the record $10.3 billion for the same quarter in 2022. Analysts had projected an EBITDA of $2.41 billion, according to Refinitiv data.
  • Maersk warned of a deeper pullback in global shipping container demand, and now expects volumes to fall by as much as 4% versus a previous worst case scenario of 2.5%.

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