Maersk Forecasts A Return To Pre-COVID Container Demand In 2021<\/a><\/em><\/p>\n<\/p>\n
Ebitda in 2020 will be between $6 billion and $7 billion, Maersk said. Before suspending its guidance, Maersk had expected profit by that measure to reach around $5.5 billion. Analysts surveyed by Bloomberg had predicted $5.83 billion, on average.<\/p>\n
<\/p>\n
In Wednesday\u2019s report, Skou said that Maersk was \u201cnever closed for business\u201d at any time during the Covid-19 crisis.<\/p>\n
<\/p>\n
Maersk\u2019s results suggest that the container shipping industry may be entering a positive cycle, Espen Landmark Fjermestad, an analyst at Fearnleys, said in a note.<\/p>\n
<\/p>\n
\u201cThe Liners are now enjoying a higher freight environment thanks to the significant consolidation the industry has seen over the last five years,\u201d he said. \u201cIn addition, container volumes are now rebounding with potentially an inventory replenish story on top.\u201d<\/p>\n
<\/p>\n
Frode Morkedal, a managing director at Clarksons Platou in Oslo, said \u201cfreight rates are performing better than expected in 3Q despite liner companies adding back ship capacity to trade lanes, an indication of a stronger demand recovery than expected.\u201d<\/p>\n
<\/p>\n
\u201cWe continue to favor Maersk as a recovery bet and we remain constructive to the container-ship market outlook, and see earnings upgrades likely to further support the stock price,\u201d Morkedal wrote in a client note.<\/p>\n
<\/p>\n
But Skou also warned that the company\u2019s current outlook doesn\u2019t include the possibility of a \u201cmaterial\u201d second phase of lockdowns. He also said that \u201csignificant uncertainties remain on demand growth due to Covid-19, global supply growth and bunker prices.\u201d<\/p>\n
<\/p>\n
\u201cGlobal demand growth for containers is still expected to contract in 2020 due to Covid-19 and for Q3 2020 volumes are expected to progressively recover with a current expectation of a mid-single digit contraction,\u201d Maersk said on Wednesday.<\/p>\n
<\/p>\n
Maersk, which transports about 15% of the world\u2019s seaborne freight, reported a second-quarter Ebitda of $1.7 billion, close to the highest analyst estimate. The company had said back on June 17 that the second quarter was developing better than first feared and that Ebitda was expected to be \u201cslightly above\u201d $1.5 billion.<\/p>\n
gCaptain<\/p>\n","protected":false},"excerpt":{"rendered":"
In an interview with Bloomberg TV\u2019s Anna Edwards, Skou said Maersk is betting on a \u201cU-shaped recovery.\u201d Shares in the company soared as much as 7.4% when trading started in Copenhagen on Wednesday. Maersk managed to cut operating costs by 16% in the second quarter which, together with a 4.5% rise in freight rates, more …<\/p>\n","protected":false},"author":1,"featured_media":15900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[10309,7268,93,1520,10310],"class_list":["post-15899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marine-world","tag-betting","tag-covid","tag-maersk","tag-recovery","tag-ushaped"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/15899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=15899"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/15899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/15900"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=15899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=15899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=15899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}