The stock is down 16.5%..
From Bloomberg via Yahoo Finance, February 8:
Maersk Slumps After Warning of Slowdown Once Freight Boost Fades
A.P. Moller-Maersk A/S shares plunged after the shipping company said it expects renewed gloom in the industry later this year when the current boost to freight rates from the Red Sea conflict evaporates.
That will still leave global container trade growth at 2.5% to 4.5% for the full-year, Maersk said, providing a 2024 financial outlook that missed most analyst estimates. About a third of Maersk’s fleet is affected by the Red Sea turmoil, which it assumes will last from one quarter to a year.
The shares fell as much as 15%, erasing all their gains since the start of the attacks in mid-December. They declined 14% as of 11:24 a.m. in Copenhagen. Peer Hapag-Lloyd AG slid 13% and D/S Norden A/S 11%.
“The amount or the range of weapons that are being used for these attacks is expanding and there is no clear line of sight to when and how the international community will be able to mobilize itself and guarantee safe passage for us,” Chief Executive Officer Vincent Clerc said in an interview with Bloomberg TV. “We’ve not seen the level of threat peak, to the contrary.”Maersk’s ships have been direct targets of missiles launched by Houthi militants and the Danish company, which controls one-sixth of the world’s containerized trade by sea, has joined other carriers in sailing the long route south of Africa....
....MUCH MORE
If interested see also Feb 5's "Houthi Tax:"Freight Rates Begin to Settle as Shippers Adjust to Cape Diversions""
