Analysis: when it rains on Maersk, it can pour

Analysis: when it rains on Maersk, it can pour
Alessandro Pasetti 15/08/2018 https://theloadstar.co.uk/analysis-rains-maersk-can-pour/

‘When it rains it pours’, I thought soon after reading that the Colombian navy, according to Maritime Denmark, had seized “1,144 packages that each contained 1 kg of pure cocaine (…) found onboard the containership Cap San Tainaro, owned by German shipping company Hamburg Süd, which is part of Maersk Line”.

What an unlucky event for the Danish carrier – one it could surely have done without, given the round of bad publicity already received this year, which so far has culminated in the latest announcement that guidance was revised down following two challenging quarters.

Wise move?

“AP Møller-Maersk Group (APMM)’s new expectation for earnings before interests, tax, depreciations and amortisations (ebitda) is in the range of $3.5-4.2bn and a positive underlying profit. The previous expectation for ebitda was in the range of $4.0-5.0bn and an underlying profit above 2017 ($356m). The remaining part of the guidance is unchanged,” it said last week.