Logistics cos might see end of 'phenomenal' years - Nordnet

NTG Nordic Transport AS

04/04/2022 13:45

** Danish logistics companies fall on Monday with Maersk
 MAERSKb.CO  - STOXX 600  .STOXX  second worst performer - down
6.7%, and DSV  DSV.CO  and NTG  NTGNT.CO  sliding about 4%
    ** Nordnet analyst Per Hansen points to an analysis by
American financial services firm Stephens which forecasts a
decrease in demand for logistics services in U.S., given
tightening of monetary policy, rising goods prices, higher
logistics costs and full warehouses
    ** Hansen says that in Europe these headwinds might be
coupled with impact from war in Ukraine
    ** "We are behind the United States, but the same trend as
in the United States can easily have an effect on our latitudes"
    ** Hence, Hansen questions whether the exceptional good
times for logistics companies might be coming to an end after
two "phenomenal" years for logistics companies
    ** "There will still be a lot to deliver, but no more the
over-demand that made the freight rates skyrocket and drove the
earnings of i.e Maersk to an unsustainably long-term high level"
    ** Shares of European peers Kuhne und Nagel  KNIN.S  and
Hapag Lloyd  HLAG.DE  are down about 2.5%, whilst Deutsche Post
 DPWGn.DE  stock inches 1.5% lower 

 (Reporting by Marie Mannes)
 ((Marie.mannes@thomsonreuters.com))