• The world's biggest shipping company has proof that Trump's China tariffs are battering global trade

    1 month ago - By Chron

    AP
    AP Moller-Maersk, the world's biggest operator of container ships, is once again sounding the alarm on President Donald Trump's trade war.
    Third-quarter profit beat expectations, but the firm said global container trade lost momentum. And so far this year, it has suffered "a much slower pace of growth."
    Trade restrictions introduced this year could reduce global container trade by 0.5% to 2.0% next year and in 2020, the company said.
    AP Moller-Maersk, the world's biggest operator of container ships, is once again sounding the alarm on President Donald Trump's trade war, saying that it...
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  • Danish shipper: US-China trade war hits container trade

    1 month ago - By Chron

    HELSINKI - Danish shipping group A.P. Moller-Maersk is warning that trade tensions between the United States and China could weigh on business.
    The company said a brewing trade war between the two had created uncertainty and could "reduce global container trade by 0.5 to 2.0 percent during 2019-2020".
    Maersk's share price was down 1 percent in afternoon trading in Copenhagen.
    The warning came as the company said third-quarter revenues increased 31 percent to $10.1 billion from $7.7 billion a year earlier. That helped Maersk post a net profit from continuing operations of $191 million...
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