Maersk’s COVID-19 rebound in Q2 may be foiled by weaker European shipping — Panjiva
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Maersk’s COVID-19 rebound in Q2 may be foiled by weaker European shipping

China 2393 Coronavirus 256 Corp - Shipping 743 Earnings 414 European Union 574 Mode - Containerized 1179 U.S. 4229

Container-line Maersk reported a 5.5% year over year drop in revenues in Q4, citing “front-loading to the U.S. in Q4 2018 ahead of anticipated tariffs”. The firm has taken a downbeat outlook to 2020 with a decline in profits expected due to COVID-19 coronavirus which has “significantly lowered visibility” for the first half of the year. CEO Soren Skou has stated that Chinese factories are now running at 50-60% capacity, ramping up to 90% in the first week of March which “hopefully (means) a strong rebound into April, May, June”. China represented 26.2% of U.S.-inbound shipping handled by...

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