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From the Fairplay Daily Newswire:
Maersk back in black in Q2, but warns of USD300 million cyber attack losses
A steadily improving market has pushed Maersk Group to a profit in Q2, although a possible USD300 million loss from the cyber attack will dent earnings in the next quarter.
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| From the editor |
| The shipping industry bellwether has reported its second quarter results. Maersk Line has posted a profit of USD339 million but the next quarter may prove more challenging. The Danish shipping giant is warning that third quarter losses from the mid-year cyber attack will be in the region of USD200 million to USD 300 million. These costs will stem from lost volumes during the incident as well as extraordinary costs in IT and operations. The attack forced Maersk to defensively shut down all its IT and communications, impacting container-related businesses Maersk Line, APM Terminals and Damco. Read more |
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| Commentary |
| Don’t be the ‘fish out of water’ A new economic theory called the Adaptive Markets Hypothesis has a lot to say about the drivers of the shipping cycles. |
| Read More |
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