Shippers, logistic companies shares swerve off course after US tariffs

Dsv A/S

03/04/2025 10:38

Corrects analyst name in bullet point 3

   ** Shares in European shipping and logistic groups fall after President Donald Trump announced sweeping tariffs on most goods imported into the United States

** The extent of the now announced tariffs is most likely exceeding market expectations, Zurcher Kantonalbank analyst Gan Marco Werro says

** Werro notes that around a fourth of all sea freight containers go in or out of the U.S.

   ** Shippers Maersk MAERSKb.CO, Hapag-Lloyd HLAG.DE, logistic groups DSV DSV.CO, Kuehne und Nagel KNIN.S, DHL DHLn.DE are all down between 4% and 8%

   ** Hapag-Lloyd says it could adjust its service network in the wake of the tariffs, as it warns of impact on demand, cargo flows and costs

** Maersk expects customers to be more cautious about inventory levels and sees a potential short-term surge in air freight orders

** "We expect freight flows to shift geographically and this shift should lead to more complex supply chains for customers," Deutsche Bank analyst Andy Chu says

** This could include more cross-border shipments, more value-added services and more warehousing requirements, Chu adds

 (Reporting by Boleslaw Lasocki)

 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))