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Maersk Warns of Lower Earnings From Coronavirus Impact

Maersk Warns of Lower Earnings From Coronavirus Impact

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The world’s biggest container ship operator says efforts to hold back the spread of the virus are weighing on both China’s exports and imports. A.P. Moeller-Maersk A/S is facing a weak year as the coronavirus outbreak takes a toll on shipping volumes and freight rates after broader market conditions sent the Danish shipping giant to an unexpected fourth-quarter loss. The world’s biggest container ship operator said Thursday it has canceled dozens of sailings out of China since late January as factories there were closed for an extra week after the Lunar New Year and struggled to resume production. Maersk Chief Executive Soren Skou said in an interview that quarantines and travel restrictions aimed at containing the spread of the virus have had “a huge impact” on China’s export vol...