Danish container transporter A.P. Møller-Maersk expects the volumes in the current second quarter to be a quarter lower than a year earlier. The corona crisis is having “a significant impact” on the company’s operations, said CEO Søren Skou.
Due to the lockdowns in many countries, the demand for goods has taken a hit. This has a direct impact on the flow of goods. Maersk withdrew its own full year financial expectations in March. The company is currently anticipating a contraction of the global container market, against an earlier forecast of 1 percent to 3 percent growth.
In the first quarter, Maersk saw sales grow slightly to nearly $ 9.6 billion. That was slightly more than experts in the average had anticipated.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at nicholas.dekramer@economicinform.com
