A.P. Moller-Maersk A/S, the world’s biggest shipping line, is a trade bellwether because it carries nearly one-fifth of the world’s shipping containers. Last week it lowered its 2019 profit forecast and cited a dimming outlook for world economic growth. CEO Skou said trade tensions last year led to front-loading of shipments and stockpiling in 2018. Drawing that inventory down will mean reduced trade and shipping demand in 2019.
Soren Skou, chief executive officer at A.P. Moller-Maersk, discusses their EBITDA forecast for 2019, his outlook for oil prices and how trade tensions have impacted his business. Here is a direct video link.
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