MAERSK expects the global ocean container market to decrease by up to 2.5% in 2023, according to its financial report for 2022.

The company expects its underlying EBITDA for 2023 to be in the range of US$8 billion to 11 billion.

The company’s EBITDA for 2022 was US$36.8 billion, and US$24 billion in 2021.

A.P. Moller – Maersk CEO Vincent Clerc said last year was remarkable in more than one way.

“While we report the best financial result in the history of the company, we have also taken the partnerships with our customers to a new level by supporting their supply chains end to end during highly disruptive times,” Mr Clerc said.

“As we enter a year with challenging macro-outlook and new types of uncertainties for our customers, we are determined to speed up our business transformation and increase our operational excellence to seize the unique opportunities in front of us.”

The company said its “unprecedented” financial results were driven by solid performance across all businesses during the abnormal market conditions in the first part of the year.

“As congestions eased and declining consumer demand led to a significant de-stocking in all segments, the expected normalisation of the ocean market kicked in during the final stretch of year,” the company said.

Last year, Maersk said its ocean division delivered the strongest result on record – up 33%. This was due to high freight rates and strong demand particularly in the first half of the year.