ShippingWatch

Nykredit expects millions in Maersk Line profits

Senior Stock Analyst at Nykredit Markets, Ricky Steen Rasmussen, expects a profit of USD 400 million on the Maersk Line bottom line, when A.P. Moeller-Maersk presents the company’s financial statements for the third quarter on Friday.

Photo: Maersk Line

Maersk Line will be at the top of the list when Ricky Steen Rasmussen, Senior Stock Analyst at Nykredit Markets, reviews the A.P. Moeller-Maersk financial statements for the third quarter, published on Friday. Questions regarding the developments in September, and the company’s opinions about its competitors’ withdrawal of capacity, are among the most interesting subjects, he says.

“I expect Maersk Line to present a profit, like in the second quarter. The third quarter typically includes the peak season, so we should see profits of around USD 400 million on the bottom line. What we’ll be keeping an eye on is how bad September has been to the freight rates. Several competitors have said that the month was very, very bad compared to last year, and we’ve also heard from several forwarders that the volumes transported have decreased significantly – around ten percent,” says Ricky Steen Rasmussen.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

HHLA advances despite chaotic market

Port company Hamburger Hafen und Logistik has seen much progress this past half year despite ”major operational challenges” on a volatile market.

Borr Drilling seeks capital in the US

Tor Olav Trøim’s Borr Drilling searches for capital in the US and plans to issue shares on the New York Stock Exchange, a company statement reveals.

Related articles

Latest news

See all jobs