As coronavirus goes global, Maersk prepares for a major financial hit

As the coronavirus crisis continues, and begins to impact global share prices, Maersk’s guidance for a mid-point lower ebitda of $200m less than 2019 looks increasingly inadequate.
However, in fairness to the Danish logistics giant, no economics experts can realistically claim to accurately predict the final financial damage from Covid-19.
And its peers, like MSC, with its additional investment in the cruise line business that is likely to be hammered by the …

The post As coronavirus goes...

https://theloadstar.com/as-coronavirus-goes-global-maersk-prepares-for-a-major-financial-hit/

Food exports to China have ‘gone from overdrive to near standstill’

For many perishables exporters and their logistics providers in the Americas, China has turned from an Eldorado into a nightmare.
Capacity has shrivelled up to a fraction of previous lift, and rates are headed for the stratosphere. Reefer capacity is in even worse shape, but these horrors pale in the face of the collapse that the market has suffered in the wake of the Covid-19 virus epidemic.
China has been the biggest …

The post Food exports to China have ‘gone from overdrive to near standstill’

https://theloadstar.com/food-exports-to-china-have-gone-from-overdrive-to-near-standstill/

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