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04 August 2021 The on-line newspaper devoted to the world of transports 17:57 GMT+2

June 17, 2020

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Maersk and MOL report a positive change in previous economic forecasts

The Danish company considers that in the April-June period the decline in volumes transported by its fleet will be -15%/-18%

The Danish Maersk Line, the world leader in the containerized shipping by capacity of the Japan's Mitsui O.S.K. Lines (MOL), a group that operates in the main maritime transport sectors, including container through the ONE joint venture established in July 2017 along with their compatriots NYK and "K" Line, announced today a positive review of their results expected economic benefits.

Maersk announced that, based on market developments and cost-cutting measures taken and the relevant number of departures of ships suppressed in the transport sector group leader, A.P. Muller-Mursk expects to have a margin in the second quarter of this year operating expenses, however, slightly higher than that of the first quarter of 2020 which amounted to USD 1.5 billion, period in which EBITDA is traditionally lower than in the following quarter ( 13 May 2020). The Danish company explained that in the second in fact, demand is more higher than expected and is now expected to be April-June period the decline in volumes transported by the fleet will be -15%/-18% compared to the decrease of -20%/-25% previously planned.

"Despite the -15/-18% decrease expected in the second quarter due to The Covid-19 - said the CEO of the Danish group, S.E. Skou - I am pleased with our forecast of operating profit slightly higher than in the first trimester. That means -- he highlighted - that we expect operating profits to be higher than in the same quarter last year.' In the second quarter of 2019, group EBITDA state of 1.36 billion dollars ( 16 August 2019). "In a very difficult second quarter - continued Skou - we were able to navigate well by adjusting the capacity to demand to maintain a high level of our network and managing our costs across the company."

MOL also reported that current forecasts are better compared to those previously formulated. In particular, the group Japan considers that the 2020 annual tax year, which is the period will end on 31 March 2021, and will record a zeroing out ordinary profit from a sign result negative for -10/-40 billion yen (-93/-372 million U.S. dollars) expected earlier and compared to an ordinary profit of 55.1 billions of yen in fiscal 2019.

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