The latest trade sanction imposed on major economies by the USA has arguably created a huge imbalance in trade profits for major companies all over the world.
And as a result of these US sanctions, even the world’s biggest shipping company, AP Moller-Maersk said that in spite of it being in profit for the second quarter of 2018, it remains highly concerned due to uncertainty related to global trade.
In comparison to the previous year’s loss of $264-million, the Danish shipping company’s second-quarter revenue grew nearly 24 percent to $9.5 billion, which led to a $26-million profit.
According to a statement given by CEO Soeren Skou on Friday(August 17th), he said that the company managed to make a “strong growth,” mainly due to the acquisition of German container shipping company, that has been “a positive contributor” for quite long.
Higher bunker prices were also influential in increasing the profits.
A statement published by The Copenhagen-based group states that “full-year guidance continues to be subject to uncertainties”, as restrictions on global trade keep growing.
Maersk also announced that it will list its drilling unit, Maersk Drilling Holding A/S, separately in Copenhagen.
Notably after the announcement, Shares in the parent company went up by 4% to 8,966 kroner.