|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||14.61 - 14.79|
|52-week range||10.90 - 19.14|
|Beta (5Y monthly)||1.46|
|PE ratio (TTM)||2.04|
|Forward dividend & yield||1.85 (13.01%)|
|Ex-dividend date||16 Mar 2022|
|1y target est||N/A|
COPENHAGEN (Reuters) -Shipping group Maersk expects global container demand to fall this year as sales of durable goods come to a "standstill", leaving flat-screen TVs and furniture piling up in warehouses, the company said on Wednesday. A surge in consumer demand and pandemic-related logjams holding up containers in key ports had boosted freight rates and profits in the shipping industry in recent quarters, yet the cost of living crisis has reversed that trend. Maersk, one of the world's biggest container shippers with a market share of around 17%, said inflation and a worsening economic situation had dented consumer demand, which could lead to a normalization of the global shipping market towards the end of the year.
Chaos in global supply chains will continue for several more months, one of the world’s biggest shipping companies has warned.
AP Møller-Maersk has lifted its annual profit forecasts for the third time this year because of prolonged supply chain disruption, as the world’s second-largest container shipping group said a “normalisation” in the market would take longer than expected. The Danish shipping and logistics group on Tuesday said it anticipated its full-year profits would be about a quarter higher than forecast, adding that a “gradual normalisation” in freight rates was now more likely in the fourth quarter rather than the middle of the year. Maersk raised its full-year forecast for underlying operating profits to about $31bn, from $24bn previously.