Maersk warns trade war may hit container demand

Shipping group A.P. Moller-Maersk warned yesterday that a global trade war and geopolitical uncertainty could trigger a drop in global container volumes this year, although it left its profit outlook unchanged.

- JACOB GRONHOLT-PEDERSEN STINE JACOBSEN

Trade tariffs imposed by US President Donald Trump have prompted companies worldwide to cut sales targets and major economies to revise down growth prospects, impacting demand for shipping goods at sea.

Maersk, viewed as a barometer of world trade, said it now expects global container volumes within a range of down 1% to up 4% this year, compared with the 4% growth estimated at the beginning of the year.

"The outlook for global container demand over the remainder of the year remains highly uncertain, shaped by a rapidly evolving trade policy landscape and increasing recession risks in the United States," Maersk said.

Many companies rushed to ship goods to the US at the beginning of the year in anticipation of potential tariffs. But most economists are calling the Trump tariff gambit a demand shock to the world economy that will sap global activity.