The credit rating of Maersk has been rated downwards by Moody’s Investors Service, stating they expect the number one of global container shipping will be challenged by a volatile downsizing container market in the near future.
Maria Maslovsky, Moody’s vice president and senior analyst stated the downgrade was reflecting their expectation that Maersk will face increased market and execution risks and, as a result, operate at a higher leverage than is commensurate with a Baa2 rating for a company in such a cyclical business as container shipping.”
However, we acknowledge Maersk’s leadership position as a liner and container terminal operator, as well as its strategy to integrate vertically into the logistics business and offer superior value to its customers, she continued.
Moody’s also commented the fact Maersk is also world’s fourth biggest terminal operator which is contributing nearly 20% of Maersk’s ebitda bringing more stability then only the container liner operations.
It is expected Maersk will be able to continue to hold its leadership position in container shipping, including the successful integration of Hamburg Sud into their operations. Maersk pointed out its expectations to exceed its guidance for synergies from the Hamburg Sud acquisition up to $ 150 million compared to their original planning.
