Maersk CEO on integrator strategy: “One assumption has not materialised”
It has been a decade since Maersk decided on a radical strategic shift – away from being a conglomerate and towards becoming an integrator. As part of this, the company sold off its oil and other energy activities, as well as other holdings, and, in return, acquired various logistics companies, including the Hamburg-based freight forwarder Senator, LF Logistics from Hong Kong, and the US providers Pilot Freight Services and Performance Team. Within the industry and on the capital markets, the combination of a liner shipping company and a logistics service provider has at times been viewed with scepticism – most recently even on the occasion of the strategy’s anniversary. As might be expected, Maersk’s senior management sees things differently. However, at a press conference in Copenhagen on Wednesday, CEO Vincent Clerc also said: “One assumption from back then has not materialised.”
Clerc looked back, noting that three plans had been drawn up at the time. The shipping division and the terminal business were to be more closely integrated. Maersk achieved this, which improved the profitability of the terminals in particular. It had also been assumed that the Maersk brand would work not only in shipping but also in other parts of the supply chain. This led to the decision to invest in logistics. This plan, too, has worked on the whole, although the group is not yet where it wants to be in some areas, nor in terms of margins. As a reminder: Maersk has set a target EBIT margin of 6 per cent for its logistics business. In the first half of 2026, the group achieved a record EBIT of 390 million dollars, resulting in a margin of 5.1 per cent.
Maersk aims to be more aggressive on rates
Meanwhile, the aim of becoming less dependent on the volatility of the shipping markets has not been realised, said Clerc. To stabilise earnings, the Danish company had focused more on contract business and less on the spot market. “Particularly during the Covid-19 pandemic, we certainly left money on the table as a result,” said Clerc. Market experts at Sea-Intelligence recently highlighted this in an analysis and, above all, calculated whether the strategy had paid off after the pandemic. The result: the plan had not worked out, as Maersk – just like its competitors – had been affected by the slump in freight rates. The consequence: the move had cost the group just under 16 billion dollars in revenue, according to Sea-Intelligence’s estimate. Vincent Clerc’s assessment today is therefore: “You cannot control the container shipping markets.”
What conclusions does he draw from this for the future? “We don’t need a new strategy,” the CEO made clear. The focus must remain on margins and customers. However, Maersk will make some adjustments to the ‘integrator’ approach.
Regarding the shipping division, he announced that Maersk would be “more assertive” in future. The carrier intends to capitalise more on rate spikes, which, in Clerc’s view, will occur more frequently in the wake of geopolitical disruptions to supply chains. This points to a greater shift towards the spot market. The Gemini Alliance with Hapag-Lloyd will ensure appropriate capacity utilisation, whilst digital solutions will help to achieve the highest possible prices.
Artificial intelligence as a core strategy
Clerc also emphasised that Maersk would be investing heavily in artificial intelligence. “That will be our core strategy,” he stressed. He did not yet wish to reveal exactly what this entails. He is presumably reserving this for the group’s next Capital Markets Day. This event was recently postponed and is already eagerly awaited by investors. In mid-August, however, the group had already expanded its customs and trade platform, “Trade & Tariff Studio”. It relies heavily on artificial intelligence and is designed to support trading companies right at the start of the supply chain. It is precisely such solutions that are intended to help ensure Maersk remains “a growth company”.
Meanwhile, the Maersk CEO made it clear that the focus on logistics is set to remain, despite the unsatisfactory profitability. “We’re not finished yet,” he even cautiously hinted at further acquisitions. In the relevant industry rankings, the group is currently ranked seventh globally. Yet the division still offers considerable potential, particularly in contract logistics. “We’re not yet where we want to be,” said Clerc.
