JPM says tariffs to hit global shipping volumes as logistics stocks extend losses

Dsv A/S

04/04/2025 11:05

** J.P.Morgan says U.S. tariffs might reduce global trade demand and volume growth, weighing on European shipping and logistics companies that extend losses to a second day

** "We see the container shipping lines as most exposed given the asset-intensive nature of their business model and high operating leverage to freight rates, which are influenced by the demand-supply balance," JPM says

** It expects container shipping companies like Maersk MAERSKb.CO and Hapag-Lloyd HLAG.DE to face significant challenges in the near term, mainly due to weaker demand, compounded by oversupply within the industry

** Its top picks for the sector are DSV DSV.CO based on self-help measures from the upcoming integration of Schenker, and DHL DHLn.DE thanks to its diversified nature

** Shares of Maersk MAERSKb.CO, Hapag-Lloyd HLAG.DE, DSV DSV.CO, Kuehne und Nagel KNIN.S and DHL DHLn.DE are down between 1.2% and 4.1%

 (Reporting by Anastasiia Kozlova)

 ((Anastasiia.Kozlova@thomsonreuters.com))