Shares of Danish shipping titan AP Moller – Maersk A/S fell sharply on Thursday, shedding nearly 10% in a single session, as fears over escalating global trade tensions roiled markets. The drop follows the U.S. administration’s announcement of sweeping new tariffs that could have wide-ranging implications for international commerce—and for the companies that move the world’s goods.
The April 2 announcement introduced a baseline 10% tariff on all imports into the U.S., with higher rates targeting approximately 60 nations. Among the hardest hit is China, which now faces a 54% total tariff after a new 34% levy was added to the existing 20%. The European Union will be subject to a 20% blanket tariff, while other major economies also face fresh barriers.
The announcement triggered a selloff across European equity markets. At the close in Copenhagen, the OMX Copenhagen 20 dropped 2.31%, marking a new 52-week low. Shares of Maersk’s B stock (CSE:MAERSKb) fell 9.49%, or 1,125 points, to 10,730.00, while its A shares (CSE:MAERSKa) declined 9.33%, closing at 10,590.00.
As one of the world’s largest shipping firms, operating a fleet of over 700 vessels, Maersk is considered a bellwether for global trade activity. The company’s fortunes are closely tied to international freight flows, making it particularly vulnerable to economic uncertainty and geopolitical disruptions. Shares in Germany’s Hapag-Lloyd, another shipping heavyweight, also fell on Thursday in Frankfurt trading.
While markets reacted strongly, some analysts suggest the selloff may be overdone. In a note to clients, Morningstar wrote:
“Tariffs did not harm these companies during Trump’s first presidency. Maersk and Hapag-Lloyd saw volumes grow 12% in 2018 and 2019, as their position as the largest carriers let them adapt to the changing flow of global goods and associated changes in routes, coming out the other side in a stronger position.”
“Nonetheless, the increased risk of future tariffs and associated reduction in trade demand is a greater risk following the recent news. So far this year, we have reduced Maersk and Hapag-Lloyd’s fair value estimates by 8% and 15%, respectively, on account of the tariffs, but this is still less than the 12% and 20% reductions by the market.”
The shipping sector’s sensitivity to tariffs varies by segment. Container vessels and car carriers are likely to be the hardest hit, with the U.S. now imposing a 25% tariff on imported vehicles. In contrast, dry bulk shipping may experience more moderate impacts. According to Jefferies and BIMCO’s chief shipping analyst Niels Rasmussen, the container sector remains the most exposed.
Maersk, in a brief statement, emphasized the importance of adaptability:
“As several scenarios remain possible, customers will need the ability to speed up or slow down goods and potentially redirect flows to alternative markets to keep their goods moving efficiently.”
In a separate development, Canadian Pacific Kansas City (CP) and Lanco Group announced the sale of the Panama Canal Railway Company—a strategic 47-mile link—to a Maersk unit. Financial details were not disclosed, but the move reflects Maersk’s continued push to integrate logistics networks despite market volatility.
Looking ahead, the sector remains on edge as President Trump considers new penalties on Chinese-built tonnage calling at U.S. ports. Still, there may be room for diplomacy. In remarks made Thursday, Trump signaled a potential willingness to ease tariffs if foreign governments offer “something phenomenal.”
For the shipping world, hope now hinges on negotiation—and on navigating the stormy waters of geopolitics.