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World's Largest Box Carrier Warns Coronavirus Could Significantly Impact Q1 Earnings

20th February 2020
Maersk containers stacked in Dublin Port Maersk containers stacked in Dublin Port Credit: Jehan Ashmore

The world's largest box-carrier, Maersk Line has reported improved profits in 2019 despite bearish global container growth.

However, A.P. Moller-Maersk (APMM), the parent company of the container shipping giant, warned that the spread of the coronavirus and the shutdown of large parts of the Chinese economy would be damaging for 2020 first quarter earnings given its impact on the group’s liner, logistics and warehousing activities.

“We estimate that right now that factories in China are operating at 50-60% capacity and will be ramping up to around 90% capacity by the first week of March,” said Søren Skou, CEO of APMM, in an earnings call earlier this morning.

Maersk Line has already cancelled 50 sailings in addition to services that were blanked for Chinese New Year holidays and factory closures in late January.

Lloyds Loading List has much more on the container-carrier. 

As Afloat reported earlier today, the Irish Exporters Association warned a number of Irish companies are going to be impacted by the coronavirus.

Jehan Ashmore

About The Author

Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals. 

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Coronavirus (COVID-19): Irish Sailing & Boating

Since restrictions began in March 2020, the Government is preparing for a 'controlled and gradual return to sport' and the 2020 sailing fixtures are being tentatively redrafted by yacht clubs, rowing clubs angling and diving clubs across Ireland as the country enters a new phase in dealing with the Coronavirus. The hope is that a COVID-19 restrictions might be eased by May 5th as Sport Ireland has asked national governing bodies for information on the challenges they face. 

Coronavirus (COVID-19) information

COVID-19 is a new illness that can affect your lungs and airways. It's caused by a virus called coronavirus.

To help stop the spread of coronavirus (COVID-19) everyone has been asked to stay at home. But some people may need to do more than this.

You may need to either:

You do these things to stop other people from getting coronavirus.

Read advice for people in at-risk groups

Read advice about cocooning.

Restricted movements

Everybody in Ireland has been asked to stay at home. You should only go out for a few reasons, such as shopping for food.

But you need to restrict your movements further if you: 

  • live with someone who has symptoms of coronavirus, but you feel well
  • are a close contact of a confirmed case of coronavirus
  • have returned to Ireland from another country

You need to restrict your movements for at least 14 days.

But if the person you live with has had a test and it is negative, you don't need to wait 14 days. You should still follow the advice for everyone - stay at home as much as possible.

Close contact

This is only a guide but close contact can mean:

  • spending more than 15 minutes of face-to-face contact within 2 metres of an infected person
  • living in the same house or shared accommodation as an infected person

How to restrict your movements 

Follow the advice for everybody - stay at home.