DANISH shipping giant Maersk, the world largest container carrier, said its
second quarter results will be better than its first.
Group
operating profit (EBITDA) before restructuring and integration costs for Q2
will be slightly above Q1, which came in at US$1.5 billion.
Market
demand in the second quarter is developing more favourably than originally expected.
Maersk now anticipates declines of 15-18 per cent for Q2 compared to the intial
guidance of 20-25 per cent.
But full-year guidance on
earnings remains suspended given the uncertainty on demand recovery in the
second half as economies are still impacted by Covid-19.
Said Maersk
group CEO Soren Skou: "We have
been able to navigate well in a very difficult second quarter, adjusting
capacity to demand to maintain high utilisation of our network and managing our
cost across the company. We also delivered year-on-year earnings growth despite
five per cent lower demand and sharply increasing fuel costs as a result of the
switch to low-sulphur fuel on January 1."
Source : HKSG.
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