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A.P. Moller-Maersk A/S, a bellwether for global trade, said shipping volumes show that the US market grew in the first quarter of the year.
While consumer sentiment may soon take a hit from the “current turmoil,” the main scenario remains that the US economy will avoid a contraction in 2025, the Copenhagen-based shipping line said on Wednesday.
“We are conscious that this can change, but our data shows that demand momentum from the second half of 2024 broadly continued into the first quarter of 2025” in the US, Maersk’s Chief Commercial Officer Karsten Kildahl said in an update to clients.
The report on Wednesday coincides with markets awaiting the fallout from US President Donald Trump’s planned introduction of sweeping tariffs, upending decades of advances in free trade. Maersk, which controls about 14% of the world’s container fleet and operates 60 ports, had said in February that it expects global shipping volumes to increase by about 4% this year.
Threats of tariffs have driven more companies to accelerate imports to boost inventories this year, Maersk said. In February, data indicates “a continuing expansion of inventory levels in the US,” the company said.
In Europe, Maersk said Germany’s recent investment package will boost the economy and could help the country’s manufacturing sector bounce back. The plan is part of a “paradigm shift” for Europe, which is set to invest more, including on defense, Kildahl said.
“This will provide a much-needed stimulus to the euro area, which should be closely monitored,” the executive said.
Maersk is due to publish its first-quarter financial report on May 8.
This article was generated from an automated news agency feed without modifications to text.
