World's top shipper says outlook for trade uncertain

“We are well positioned to financially and strategically come out stronger of the crisis.” In a statement, the group said its full-year outlook contained “high uncertainties” related to the pandemic and "does not take into consideration a material second lockdown phase.” It expects earnings before interest, tax, depreciation and amortization to be between $6 billion and USD 7 billion before restructuring and integration costs.

The world's biggest shipping company, Denmark's AP Moller-Maersk, said Wednesday that its business dropped slightly in the second quarter as the COVID-19 pandemic hurt global demand

The Copenhagen-based group said its revenue declined by 6.5 per cent to USD 9 billion compared with the same quarter last year. Its profit fell to USD 443 million from USD 520 million for the same period last year

CEO Soeren Skou said the results were strong considering the economic conditions. “We are well positioned to financially and strategically come out stronger of the crisis.” In a statement, the group said its full-year outlook contained “high uncertainties” related to the pandemic and "does not take into consideration a material second lockdown phase.” It expects earnings before interest, tax, depreciation and amortization to be between $6 billion and USD 7 billion before restructuring and integration costs.