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🔥Q2 Surprise: Is Maersk Quietly Winning the Logistics War?
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🔥Q2 Surprise: Is Maersk Quietly Winning the Logistics War?

🚨10 Sharp Questions That Reveal the Real Maersk Q2 Story!

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Maritime Analytica
Aug 07, 2025
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Maritime Analytica
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🔥Q2 Surprise: Is Maersk Quietly Winning the Logistics War?
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🔥 Greetings, Maritime Mavericks!

Maersk’s Q2 results have just been released.

Volumes are up. Terminals are booming. Logistics is improving.

But profits? Slipping.

Margins? Under pressure.

And Ocean—the core—is feeling the squeeze.

  • 1️⃣ Did Maersk grow in Q2 2025?

  • 2️⃣ What happened to profitability?

  • 3️⃣ Is the Ocean division still the crown jewel?

  • 4️⃣ How did Logistics & Services perform?

  • 5️⃣ Are Terminals Maersk’s new power play?

  • 6️⃣ What’s new with Gemini Cooperation?

  • 7️⃣ How’s Maersk doing on sustainability?

  • 8️⃣ What about investor returns?

  • 9️⃣ What’s the market outlook?

  • 🔟 Is this still a Maersk-led market?

Plus

  • 🏅Maritime Analytica Insight – Big Picture

Let’s break it down in 10 critical questions that reveal the true state of Maersk in Q2 2025👇

www.maersk.com


1️⃣ Did Maersk grow in Q2 2025?

  • 3.1B (up from $12.8B last year)

  • EBITDA: $2.3B (up from $2.1B)

  • Underlying EBIT: $818M (up from $756M)

💡 But free cash flow went negative: –$373M, due to rising capex and lease costs.


2️⃣ What happened to profitability?

📉 Headline EBIT fell to $845M (–$118M YoY) Why?

  • Ocean EBIT plunged 51% to $229M

  • Logistics & Services grew EBIT to $175M (+39%)

  • Terminals surged to $461M (+31%)

🏗️ Heavy investments in fleet + no asset sales this quarter = margin pressure.


3️⃣ Is the Ocean division still the crown jewel?

🚢 Not this time.

  • Volumes rose 4.2%, but…

  • Freight rates fell 9.6% YoY

  • Unit costs (ex-bunker) rose 1.8%

  • EBIT margin dropped to 2.7% (from 5.6%)

💥 Profit was squeezed despite 10% higher volume QoQ. Ocean is now working harder for smaller returns.


4️⃣ How did Logistics & Services perform?

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