MoneyFEARS OF THE FUTURE

Shipping giant warns about rapid economic deterioration

'Dark clouds on the horizon'

By WND News Services
Published November 4, 2022 at 3:40pm

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(ZEROHEDGE) – A.P. Moller-Maersk A/S, the world's largest owner of container ships and one of the best bellwethers for global trade, lowered its outlook for the growth of 2022 global container demand and warned next year could be worse.

Maersk's warning about a slowdown in container demand and economic turmoil ahead was conveyed in a third-quarter earnings report released today and in an interview by the company's top executive on Bloomberg.

The Copenhagen-based company lowered its outlook for the growth of 2022 global container demand to decline 2-4% from the previous estimate of plus or minus 1%. The forecast sent Maersk's shares tumbling nearly 6%.

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