Denmark’s Maersk warns trade war could hurt shipping container business
) warned a trade war between the United States and China could curb container traffic this year after the world’s largest container shipping company beat second-quarter profit expectations.
He said Maersk had seen “solid progress” in the second quarter, including realizing synergies of $1 billion from restructuring earlier than expected. The shares traded as much as 7% higher in early trade, but were trading 2.5% lower at 6,808 crowns each at 1027 GMT. “It looks like consensus was running ahead and some had seen Maersk’s guidance as conservative,” Hoyer said.Skou said he was planning for low growth in container shipping demand this year and next but not recession.
FILE PHOTO - The Maersk Line container ship Maersk Sentosa is helped by tugs as it navigates the River Mersey in Liverpool, Britain, July 31, 2018. REUTERS/Phil Noble
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