Maersk's first-quarter performance aligned with the company's expectations, reflecting a notable earnings rebound from Q4 2023.

The positive results were propelled by Terminals' solid performance and a confluence of factors including increased demand and the ongoing Red Sea crisis, according to the statement.

With these conditions anticipated to persist through the latter half of the year, Maersk has adjusted its guidance range, now anticipating underlying EBIT in the range of US$ -2 to 0 billion.

The Ocean segment experienced the impact of the Red Sea situation, facing elevated market rates and increased costs due to disruptions in the supply chain. Despite this, robust volumes, optimal capacity utilization, and ongoing cost control measures led to improved results compared to the previous quarter, noted the Danish ocean carrier.

Furthermore, Logistics & Services witnessed substantial volume growth, although margins were deemed unsatisfactory due to underutilization in certain warehouses and short-term challenges in implementing new customer contracts in the ground freight business in North America.