The shipping industry is getting rather better at responding to prevailing economic conditions than it has been at times in the past
His warning sent shares of Maersk, which more than doubled in value between the end of January last year and the middle of January this year, down by more than 7%. The company, the second largest on Denmark's blue-chip OMX 20 index after the drug-making giant Novo Nordisk, has seen its stock market valuation fall by two-fifths since it peaked on 13 January.
He went on:"We are pulling back our outlook for the industry and expect global container demand to decline by 2-4% in 2022. From the global market data we can all observe, it should be clear that the risk [to that forecast] is to the downside going forward." It was the 16th consecutive quarter in which the company had reported a rise in earnings. During the first nine months of the year, Maersk made pre-tax profits of $24.9bn , just over double what it achieved in the same period in 2021.
He said that shipping companies were starting to respond by taking capacity out of the market and this was likely to continue.
France Dernières Nouvelles, France Actualités
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