Maersk performance in first quarter “unsatisfactory”
Maersk made an underlying loss of US$239m in the first quarter of 2018 as higher unit costs, owing to bunker price rises and worse exchange rates, hit its container shipping segment.
The conglomerate’s revenue grew by 30% to US$9.3bn – 10% excluding Hamburg Süd – although this failed to lift the gloom from a difficult quarter.
A statement from the company noted the tough operating environment included “increased uncertainties due to geopolitical risks, trade tensions and other factors impacting freight rates, bunker prices and rate of exchange”.
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