Comment / Conf call redux: Mærsk mum on tariffs

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It was a somewhat phlegmatic CEO Vincent Clerc addressing analysts at yesterday’s first-quarter Maersk earnings call. Some parts of the business had performed well – take a bow, APM Terminals – while others still had ground to make up – the EBIT margin in Logistics & Services was 4.1%, still stubbornly below the targeted 6% but way better than the measly 1.5% achieved this time last year.

It probably doesn’t matter that much at the moment because these are relatively small ...