Shipping Firm Maersk Says Q2 Demand Beats Initial Expectations

By Dayeeta Das
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Shipping Firm Maersk Says Q2 Demand Beats Initial Expectations

A.P. Moller-Maersk, the world's top container shipping firm, has said that market demand is more favourable than originally expected in the second quarter.

The coronavirus crisis hit the container shipping trade as supply chains were upended and businesses and factory activity in China and later across the world was disrupted.

However Maersk, which handles one in every five containers shipped by sea worldwide, now expects volumes to fall 15-18% in the second quarter compared to a previous forecast for a 20-25% drop.

It expects second-quarter earnings before interest tax, depreciation and amortisation (EBITDA) and before restructuring and integration 'slightly above' the $1.5 billion achieved in the first quarter.

Maersk will publish full second-quarter results on 19 August.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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