News / Maersk enjoys 'reasonable' first quarter, but there's rougher sea ahead

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After a solid first quarter performance, Maersk says it expects container volumes to contract by up to 25% in second quarter.

The substantial reduction in demand is due to the pandemic and ensuing consumer lockdowns, with the financial implications expected later in the year, said chief executive Soren Skou today.

Notwithstanding the expected downturn in the second quarter he said Maersk’s liner pro-forma result for April had been “reasonable”, benefiting from a halving of fuel costs and its “agile capacity management protection ...