The world's largest shipping firm warns of 'considerable uncertainties' as trade tensions rise

A.P. Moller-Maersk is the largest container shipping company in the world.

Andia | UIG via Getty Images

Danish shipping group A.P. Moller-Maersk on Friday posted first-quarter profit close to expectations and warned that trade tensions and slowing economic growth constitute "considerable uncertainties."

Earnings before interest, tax, depreciation and amortization (EBITDA) totaled $1.24 billion for the quarter, compared with $1.25 billion forecast by analysts in a Reuters poll.

Maersk, the world's largest container shipping company, said it still expects 2019 EBITDA of about $5 billion.

"We are still facing considerable uncertainties," CEO Søren Skou said in a press release, mentioning "the risk from trade tensions."

In the first quarter, "volumes on trans-Pacific trade between Asia and North America have shown signs of decline and new tariffs can potentially reduce expected growth in global container volumes by up to 1 percentage point." he added.

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