Maersk meets first-quarter revenue forecasts but warns on container sector outlook

Maersk meets first-quarter revenue forecasts but warns on container sector outlook

Shipping group A.P. Moller-Maersk posted first-quarter revenue in line with expectations on Wednesday but warned about a drop of as much as 25per cent in global container volumes in the second quarter.

FILE PHOTO: The ship Anna Maersk is docked at Roberts Bank port carrying 69 containers of mostly pa
FILE PHOTO: The ship Anna Maersk is docked at Roberts Bank port carrying 69 containers of mostly paper and plastic waste returned by the Philippines in Vancouver, British Columbia, Canada June 29, 2019. REUTERS/Jason Redmond

COPENHAGEN: Shipping group A.P. Moller-Maersk posted first-quarter revenue in line with expectations on Wednesday but warned about a drop of as much as 25per cent in global container volumes in the second quarter.

Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at US$1.52 billion, slightly above company guidance provided in March when it suspended full-year guidance due to uncertainty caused by the coronavirus pandemic.

The world's biggest container shipping company reported revenue of US$9.57 billion versus the US$9.59 billion forecast by 16 analysts in a poll compiled by Maersk.

(Reporting by Jacob Gronholt-Pedersen; editing by Jason Neely)

Source: Reuters

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