Maersk Buys Trucking Firm, Warns Ocean Freight Boom Is Waning
- Maersk sees container market growing 2% to 4% in 2022
- Shipping giant is growing on land in pursuit of higher margins
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A.P. Moller-Maersk A/S agreed to buy Pilot Freight Services LLC for $1.68 billion, shoring up its road-transport business while signaling an unprecedented boom in container shipping may be starting to fade.
The deal announced Wednesday coincides with a 2022 profit forecast that falls well below analysts’ estimates. Maersk said it expected a strong first half before a “normalization in ocean” early in the second half.