Maersk warns trade war could hurt container business

Maersk warns trade war could hurt container business

19.8.2019

Maersk warns trade war could hurt container business

Shipping company's second-quarter results beat profit expectations

Copenhagen — AP Moller-Maersk warned a trade war between the US and China could curb container traffic after the world’s largest container shipping company beat second-quarter profit expectations.Earnings before interest, tax, depreciation and amortisation (ebitda) grew 17% to $1.36bn, topping the $1.24bn forecast by analysts in a Reuters poll.

Some investors may have been disappointed that Maersk did not raise its full-year guidance despite a good result for the first six months.“Some expect a recession in the US. We doubt it will happen this year or next,” Skou said. “We wake every morning to new tweets from the US president. Now tariffs have been cancelled on all the consumer goods that will be in demand during Christmas shopping. Those are the goods we ship, so now we’re a bit more optimistic,” he said.

While Maersk moves around one in five containers shipped at sea, it handles the land transportation from ports to warehouses and distribution centres for less than a quarter of its customers.

Read more: Business Day

Maersk warns trade war could hurt container businessShipping giant Maersk warns trade war could hurt container business

Maersk warns trade war could hurt container businessShipping company's second-quarter results beat profit expectations

Maersk warns trade war could hurt container businessShipping giant Maersk warns trade war could hurt container business

Maersk warns trade war could hurt container businessShipping company's second-quarter results beat profit expectations

Risks to growth increase daily, African Development Bank warnsProjection for continent could be lowered if external shocks such as US-China trade war, Brexit and India-Pakistan standoff accelerate

Risks to growth increase daily, African Development Bank warnsProjection for continent could be lowered if external shocks such as US-China trade war, Brexit and India-Pakistan standoff accelerate



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