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AP Møller-Maersk forecast a plunge in profitability this yr and a possible contraction in world commerce as two increase years in container transport grind to a halt.
The Danish firm, the world’s second-largest container transport group, forecast underlying working income this yr to be $2bn-$5bn, down from the report $31bn it made final yr. It made $5.1bn within the fourth quarter alone, at the same time as freight charges normalised.
“As we enter a yr with difficult macro-outlook and new kinds of uncertainties for our clients, we’re decided to hurry up our enterprise transformation and enhance our operational excellence to grab the distinctive alternatives in entrance of us,” stated Vincent Clerc, Maersk’s new chief govt.
Clerc, who took over as chief govt on January 1, faces a tough state of affairs: the corporate made report leads to 2022 after pent-up demand from the Covid-19 pandemic prompted charges to soar, however this yr appears far harder.
Maersk stated it anticipated world container demand to be between minus 2.5 per cent and plus 0.5 per cent, a big step-down after years of development.
Revenues in 2022 elevated by a 3rd to $82bn whereas working revenue rose by 57 per cent to $31bn.
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