Global rates had dropped as the industry added ships in anticipation of an economic recovery, causing overcapacity. Maersk said its first-quarter result was hurt by a 9 percent drop in freight rates and 31 percent higher fuel prices.
Maersk shares declined as much as 8.7 percent, the biggest intraday drop since September 2009. The stock was down 5.8 percent at 38,000 kroner at 3:33 p.m. in the Danish capital.
Container lines ended a price war in February after almost a year and began cutting capacity and raising rates to restore profitability.