Maersk was very bearish overnight.
AP Møller-Maersk warned of a “radically changed business environment” as profits plunged at the world’s second-largest container shipping line and worries grew about a wave of new ships soon to add to pressure on the industry.
The Danish shipping and logistics group beat analyst expectations in the first quarter but cautioned that earnings for the rest of the year would be weaker even as it forecast improved demand in the second half.
