Maersk sticks to its optimism
A.P. Moeller-Maersk A/S (APMM), the world's largest container shipping group, said it expects better market demand than previously forecast in the current three-month period. The quarterly profit should therefore be "slightly above" the USD 1.5 billion mark achieved from January to March.
Maersk is now also somewhat more confident concerning freight volumes: the group still expects a decline in the period from April to June compared to the same quarter of the previous year. Yet, the drop will be between 15 and 18% – and therefore not quite as high as previously assumed, with 20–25%.
Nevertheless, given the uncertainty of demand recovery in the second half of 2020, as economies are still impacted by Covid-19, Maersk confirmed that the full-year guidance on earnings remains suspended for the time being. (cd)
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