Thursday, February 20, 2020

Shipping: "Maersk CEO Predicts ‘Sharp’ Rebound After Coronavirus Peaks"

However, see the outro note from yesterday's "Shipping: Carriers Have Pulled 1.67m teu of Capacity Out of China, $1.5bn Lost Revenue": 
Now everyone is looking for a dramatic snap-back in volumes, beginning with air freight but if it doesn't materialize in say, 2 - 4 weeks it will be lost for good. 

From Bloomberg via gCaptain, February 20:
A.P. Moller-Maersk A/S, the world’s largest container shipping company, is positioning itself for a strong rebound in two months, based on an expectation that the fallout of the coronavirus on global trade may soon peak.

“Over the last two and a half weeks we have seen a steady decline in the number of new cases” and “that is positive,” Chief Executive Officer Soren Skou said in an interview with Bloomberg Television’s Matthew Miller on Thursday, after the company published a weaker-than-expected fourth-quarter report.

“It means, very well, we could be set for a peak within the next two weeks,” he said. “If that were to be the case, then we would expect a very weak March and a rebound in April, a sharp rebound in April,” he said. “But there is still a lot of uncertainties out there.”
Investors seemed unsure how to interpret the overall message. Shares in the company opened down but then jumped about 4%, before sinking roughly 4% by mid-afternoon local time....