Earnings

Maersk earnings Q4 2019

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A.P. Moller-Maersk is the largest container shipping company in the world.

Andia | UIG via Getty Images

Shipping giant Maersk warned on Thursday that the coronavirus outbreak would weigh on earnings this year, compounding the woes of a container shipping industry already subdued by trade wars and an economic slowdown.

Maersk, which reported a lower-than-expected fourth-quarter profit on Thursday, forecasted a weak start to the year because factories in China were closed for longer than usual after the Chinese New Year holiday.

“Weekly container vessel calls at key Chinese ports were significantly down compared to last year during the last weeks of January and the first weeks of February,”…



Source cnbc.com

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