Klik venligst

Maersk stock drops with 10 pct.

Maersk stock drops with 10 pct.

17-05-2018 12:00:00

The deficit of 239 million dollars of the first quarter in the continuing part of A.P. Møller – Maersk disappoints investors, who have made the stock drop by 9,6 percent after one hour of trade. The Chief Executive refers to the result as ”Dissatisfying”.

Revenues are rising in Ocean, which is the biggest segment of the Maersk enterprise, but profits are not following.
”Maersk is not making enough money in the first quarter and that has disappointed investors. It is especially cost that are halting, says stock analyst Morten Imsgard from Sydbank to Maritime Danmark

”The image of the industry is not a very positive one at the moment. But Maersk’s results are in contrast to several of our competitors, for example Hapang-Lloyd. Investors might have to get used to the fact that Maersk is no longer the best earning shipping company,” He says.

Chief executive of A.P. Møller – Maersks refers to the result as dissatisfying.
"First and foremost we are disappointed in our Ocean segment. Revenues are drastically increasing, but it does not propagate to the bottom line, where we delivered a loss in that segment and therefore a loss throughout the entire of the continuing business of AP Møller Maersk, "says Søren Skou to TV 2.

Morten Imsgard points out that one of the bigger problems of the market is overcapacity, and with a large inflow of new ships this year, the problem is not likely to go away.

”Therefore is it hugely important that the fragile freight rates are not negatively affected in the time to come,”

A drop in the average freight rates of 100 dollar/FFE will cost A.P. Møller - Maersk 1 billions dollars in lost EBTIDA, the company informs.

”It is problematic for Maesk because you have to keep your eye on the ball on the short field, while transforming the company at the same time. You do not have find peace at work and it is difficult to make revenue in the industry at the moment,” says Morten Imsgaard.

Will the course amend itself in the midst of today?
"That probably depends on what the top management says on their conference call later today. But it's problematic that they seem to no longer be the best at managing costs. At the same time, geopolitical uncertainties - such as a trade war between the US and China ," he says.

Klik venligst

< Front page

Copyright © Maritime Denmark

Breaking News

- Man survives long stay in the ocean
- Maersk board of directors adds member
- Alba Rousing breaks free
- Shippingcompanies are going against Rønne
- Shippingcompanies are going against Rønne
- Denmark develops new under water drones
- Fjord Line wins Danish award
- Danish ex-minister in Norwegian flag debate
- Shipping companies satisfied with PM
- Maersk Tankers moves headquarters
- Knife drama onboard Stena-ferry
- 2M cancellations will not affect rates

Todays Top 5

This weeks Top 10

- Ørsted gives Borssele-contract to GoaSea
- Bladt have finalized Horns Rev 3 order
- Man survives long stay in the ocean
- 22.000 protect the ocean
Klik venligst
Klik venligst
Klik venligst
Klik venligst