Shipping group Clarkson (CKN) has warned that half-year – and possibly full-year – profits will fall short of expectations after first-quarter trading proved drier than initially thought. Not only has a challenging shipping market resulted in several delayed transactions, but freight rates have also fallen in line with the value of the US dollar.
IC TIP:
Hold
at
2495p
Analysts cited volatile financial markets and concerns about a possible trade war for the suppressed activity in shipping asset transactions. The weakness in the US dollar is also a pertinent factor, given that the bulk of the group’s transactions are denominated in the greenback.
