Maersk to Pass Rising Costs to Customers Amid Profit Decline

Maersk is facing additional monthly costs of $500 million as a result of the war in Iran, according to company leadership. CEO Vincent Clerc stated on May 7, 2026, that the ocean carrier must find ways to pass these expenses through to its customers.

The company has been recovering these added costs through higher spot freight rates and surcharges for contracted customers. Clerc noted that this strategy has ensured a limited financial impact from the conflict thus far.

During a first-quarter earnings call on May 7, 2026, Maersk reported that its underlying earnings before interest, tax, depreciation and amortization (EBITDA) fell to $1.75 billion for the first quarter of 2026. Despite the decline, the figure met market expectations.

The shipping company maintained its full-year financial guidance, which forecasts an operating profit ranging between a $1.5 billion loss and $1 billion in income.

Since the outbreak of the war in late February, spot rates have increased by an average of 40 percent. Clerc indicated that this increase has been roughly in line with the cost increases the company has faced.

The financial pressure is primarily driven by escalating fuel prices. Clerc described the situation as an energy shock, stating:

The cost impact of this energy shock is unprecedented both in terms of size, the speed at which it has unfolded and the dislocations it has created in the market

Vincent Clerc, Maersk CEO

Clerc warned that these increased costs will continue to flow through in the second quarter and beyond. He noted that the industry’s energy-intensive nature has created a whole new set of circumstances that will have a significant impact on the second and third quarters.

To mitigate the financial impact of elevated bunker prices, Maersk expects to deploy more slow steaming. The company has also responded to fuel shortages in parts of its network, specifically in Asia, by redistributing available fuel from Europe and North America to ensure vessels can refuel before departure.

The conflict has introduced what the company calls an additional layer of uncertainty for global trade. Clerc told CNBC that the balance of risks is currently on the downside and that the impact could worsen in the coming months.

Market volatility has remained high due to uncertainty surrounding the closure of the Strait of Hormuz. On May 7, 2026, global benchmark Brent crude futures were trading at $93.01 a barrel, down 2.2 percent amid hopes of a peace deal between Washington and Tehran.

Maersk shares reacted to the earnings report and the CEO’s warnings, trading approximately 7.2 percent lower on May 7, 2026.