Profit down but beats forecast<\/p>\n
Maersk’s earnings before interest, taxes, depreciation and amortisation (EBITDA) for the January to March period were $1.73 billion, compared to a median forecast of $1.66 billion in a company-provided poll of 10 analysts, but well below the $2.71 billion for the same period a year ago. The first quarter does not capture the Iran war’s full impact on global supply chains as it began on February 28 when the US and Israel launched coordinated strikes on Iran.<\/p>\n
The war has disrupted shipping routes after Iran closed the Strait of Hormuz to commercial traffic. The company has six ships trapped in the gulf, a spokesperson said.<\/p>\n
Clerc said only two to three per cent of global container trade flows to and from the gulf, giving the container shipping industry enough resilience to handle the closure of the strait.<\/p>\n
The bigger risk, he said, was if sustained high energy prices triggered broad inflation leading to recession and a drop in demand. He described a scenario of high costs, weak demand and overcapacity as “a dangerous cocktail”.<\/p>\n","protected":false},"excerpt":{"rendered":"Profit down but beats forecast Maersk’s earnings before interest, taxes, depreciation and amortisation (EBITDA) for the January to…\n","protected":false},"author":2,"featured_media":82365,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[224],"tags":[26,71,2271,245,2009,4174,18159,18003,746,17961],"class_list":{"0":"post-82364","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-maersk","8":"tag-denmark","9":"tag-europe","10":"tag-iran","11":"tag-maersk","12":"tag-mena","13":"tag-middle-east","14":"tag-middle-east-conflicts","15":"tag-persian-gulf","16":"tag-red-sea","17":"tag-strait-of-hormuz"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@dk\/116572682164385493","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/82364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/comments?post=82364"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/82364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media\/82365"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media?parent=82364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/categories?post=82364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/tags?post=82364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}