Maersk Sails Through the Squall in 1Q
No-moat Maersk delivered a reasonable 1Q trading update, with revenue up 2.5% year over year and a strong improvement on an operating income and cash flow basis. The commentary over the trading environment was quite negative, however, with a weaker macroeconomic environment being blamed for the reduced volumes seen on the Asia-North America route. While warning of the potential effects of this and new tariffs on global container volumes, management have maintained their full-year guidance. We do...A.P. Moeller Maersk is an international shipping company. Co.'s operating segments are: Container shipping and related activities which include global container services, inland transportation, manufacturing and repair of containers and container depots, and logistics and forwarding activities; APM terminals; Tankers, offshore and other shipping activities which include tanker shipping of crude oil, oil products and gas, offshore drilling activities and operation of land rigs, supply vessel activities with anchor handling and platform supply vessels, ferry services and door-to-door transportation in Northern Europe; Oil and gas activities; Retail activity; and Shipyards and other activities.
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