Maersk's new alliance delivers strong first-half results

A.P. Moller-Maersk on Thursday reported strong first-half results, crediting the performance to operational improvements and the launch of its new Gemini Cooperation shipping alliance.

"We have had a strong first half of the year, driven by consistent follow through on our operational improvement plans and the successful launch of the Gemini Cooperation," Chief Executive Vincent Clerc said in a statement.

The company said its new East-West network has improved reliability, driving increased volumes and a solid performance in its Ocean business.

Maersk also noted that demand remained resilient despite market volatility and uncertainty in global trade.

The results follow a period of market normalization in mid-2023, when the company was navigating a market characterized by customer destocking and a subdued growth environment.

"As our customers navigate these complex challenges, we remain committed to helping them build stronger and more adaptable supply chains — making sure they are ready to not just weather disruption, but to grow through it,” Mr. Clerc said.

The report comes as the company continues a share buy-back program announced in February, valued at up to approximately $2 billion.