Shipping giant Maersk suspends 2020 outlook
[COPENHAGEN] Shipping giant Maersk said on Friday its first quarter earnings would take a hit from weak volumes and that its 2020 earnings outlook would be suspended due to uncertainty in the global transport sector.
Maersk said its guidance on earnings before interest, tax and amortisation (Ebitda), previously US$5.5 billion for the year, would be suspended until further notice. It preliminarily expected first quarter Ebitda of around US$1.4 billion.
Its ongoing share buy-back programme as well as proposed dividends for 2019 would not be affected by this decision, Maersk said.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Qatar Airways closes in on major Boeing, Airbus widebody order
Cathay Pacific looking to add more Belt and Road destinations, CEO says
Baltic Exchange Shipping Insights
Jet supply chain headaches may still be here in 2026: Iata
Ships diverted from Red Sea send ripple effects across the globe
Inchcape eyes deals with big Chinese automakers to drive Apac ‘growth engine’