Maersk shares fell 15% due to disruptions in Red Sea shipping
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Today, shares of the world’s largest sea container carrier, the Danish company Maersk, fell in price by more than 15% after the company reported about problems due to the difficult situation with transportation in the Red Sea. In its annual report, Maersk noted that “the crisis in the Red Sea immediately led to overload of existing shipping capacity and a temporary increase in prices for services. Over time, oversupply of shipping capacity will increase pricing pressure and have a negative impact on our results.”
Due to shipping problems in the Red Sea, where the Houthis are shelling not only military but also civilian ships, Maersk also canceled the next, fifth, stage of the buyback of its shares – for $1.6 billion. After the publication of the annual report and the cancellation of the next stage of the buyback, Maersk shares fell in price by 15.2% at the Copenhagen Stock Exchange.
Read more in the Kommersant article. “With persistent interruptions”.
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