Maersk CEO: China’s Export Surge is Propping Up 2025 Container Market

Core Insights - China's exports have significantly supported the global container market despite ongoing trade tensions with the U.S., with its global export share increasing to approximately 37 percent in 2023 from 33 percent in the previous year [1] - Maersk has revised its global container market volume growth forecast upwards, now expecting a growth of 4 percent in 2025, an increase from the previous range of 2 percent to 4 percent [2] - The demand for container shipping has shown remarkable resilience, with Maersk reporting a 7 percent increase in volume for the third quarter, moving 3.4 million containers [3] Export Growth - China's export growth has accelerated in all regions except North America, with exports to the U.S. declining by 27 percent while exports to ASEAN and the EU increased by 15.6 percent and 14.1 percent respectively [4] - The strong export growth from China is attributed to its widely available production capacity and competitive products, indicating a sustained momentum in exports [3][4] Company Performance - Maersk's volume growth reflects the overall optimism in the market, particularly in East-to-West trade lanes, which saw a 9.6 percent increase [3] - The company's Gemini Cooperation vessel-sharing alliance with Hapag-Lloyd has resulted in a $50 million cost benefit in the third quarter [5] - Maersk has raised its full-year guidance for pre-tax operating profit, increasing the lower end from $2 billion to $3 billion, while maintaining the higher end at $3.5 billion [5]