The Copenhagen-based company made the comments as it lowered its full-year outlook, a move the market had already priced into the shares.
“Freight rates have restored after a significant drop in Q2, and volumes are growing in line with market,” Chief Executive Officer Soren Skou said in the statement. “We delivered good progress in Q2 on revenue, volumes and unit cost across our business, and results improved from a weak Q1.”
The profit warning is “not as bad as feared and 2Q18 results are indicating improved cost control,” Frode Morkedal, an analyst at Clarksons, said in a note.
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