(ZEROHEDGE) – A.P. Moller-Maersk A/S, the world’s largest owner of container ships and one of the best bellwethers for global trade, has spent the last several quarters warning about a slowdown in container demand on major shipping lanes. Maersk executives have cautioned about “dark clouds on the horizon,” sliding demand “from both the US and Europe,” and it’s “going to be bumpy.”
The Danish shipping and logistics group released yet another warning on Friday. This time it feared a contraction in global trade would be longer and deeper than previously thought.
On Friday, Maersk CEO Vincent Clerc joined Bloomberg TV’s Dani Burger and Mark Cudmore in an interview, discussing what’s ahead for global trade. The shipping exec said, “Our case is not for a recession, but it is for a really subdued environment that will continue for the rest of this year.”
