Maersk has warned that the impact of the closure of the Strait of Hormuz would be increasingly felt in global trade in the coming months, with the world’s second-largest container shipping line concerned about a potential collapse in consumer demand.
The Danish group said its costs had increased by $500mn per month because of disruption in the strait but that so far it had been able to pass these on to customers through higher freight rates.
Vincent Clerc, Maersk’s chief executive, said that he remained cautious because of the “significant increase in our cost base” coming in the second quarter.
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