Hapag-Lloyd Advises that Coronavirus to Slow Growth through H1
German container shipper Hapag-Lloyd on Friday said the coronavirus outbreak would curb business growth at least until mid-year after reporting a jump in 2019 profit and proposing a higher dividend.Larger rival Maersk on Friday also warned of a first-quarter hit from the outbreak and suspended its 2020 earnings outlook.Hapag CEO Rolf Habben Jansen said that impact from the coronavirus was impossible to determine for the time being…
Maersk Records Strong Q1, but Suspends 2020 Outlook on Coronavirus Uncertainty
Cost-cutting and price rises will help Maersk deliver higher first-quarter earnings than a year ago, the shipping giant said on Friday, though it scrapped its full-year forecast due to uncertainty caused by the coronavirus pandemic.The Danish company said its guidance on earnings before interest, tax and amortization (EBITDA), previously $5.5 billion for the year, was suspended until further notice.Preliminary…
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