Maersk reported a sharp decline in first-quarter profits as the closure of the Strait of Hormuz due to the US and Iran conflict forces significant operational and fuel cost increases.The shipping giant has suspended key routes and hiked freight rates to offset a 500 million dollar monthly rise in expenses while warning of potential weakening in consumer demand.Despite the turmoil, the company maintains its full-year growth forecast for global container demand between 2 percent and 4 percent as it navigates deep industry volatility.