Maersk forecasts tough year following record-breaking 2022

Despite recording an extraordinary 57% increase in operating profit to US$30.9bn in 2022, A.P. Moller-Maersk has scaled back its expectations for 2023, forecasting an underlying operating profit of US$2-5bn this year.

Global GDP growth for 2023 is expected to be muted and global ocean container market growth to be in a range of -2.5% to +0.5% and, as such, Maersk expects to grow in-line with the market.

Last’s year results were driven by solid performance across all businesses during the abnormal market conditions in the first part of the year.