Maersk Posts Q3 Above Forecast but Freight Rates Hit Ocean Container Business, Shares Fall

Shipping group Maersk reported better-than-expected third-quarter results on Thursday but warned falling freight rates were set to cause losses in its ocean container business during the fourth quarter, sending its shares lower.

Maersk, considered a barometer of global trade, reported robust container demand, particularly driven by exports from China, despite concerns about the dampening effect of tariffs deployed by the U.S. administration in its push to rewrite the world economic order. The Danish shipping and logistics group, however, flagged...

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