Maersk on Thursday said it expects to grow its business to track an expected 4% growth in global container shipping this year, even as profits are set to decline and U.S. President
Maersk on Thursday said it expects to grow its business to track an expected 4% growth in global container shipping this year, even as profits are set to decline and U.S. President Donald Trump's tariff threats create uncertainty.
Geopolitical developments including Trump's threats to impose tariffs on the top U.S. trading partners and access to the Red Sea shipping route will impact Maersk's revenues.
The shipping giant, viewed as a barometer of world trade, had seen no changes in cargo flows due to the threats of tariffs so far, said CEO Vincent Clerc.
"At the end of the day, it's not tariffs that matter for volumes, it's consumption," Clerc told journalists in Copenhagen after posting forecast-beating quarterly earnings and resuming share buybacks, sending Maersk's share price up as much as 10%.
"If a person wants to buy a television, then we're going to move it but if those tariffs translate into inflation, and people are buying fewer televisions, then there's fewer televisions for us to move, and then there's an impact."
Maersk expects an underlying EBITDA result of between $6 billion and $9 billion this year, compared with the $12.1 billion achieved last year and the $7.4 billion predicted by
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