Shares of Danish shipping giant Maersk fell over 14% after it warned of "high uncertainty" in its 2024 earnings due to disruptions in the Red Sea and an oversupply of shipping vessels. The company also suspended share buybacks. Maersk expects underlying EBITDA of $1 billion to $6 billion this year, compared to $9.6 billion in 2023. The disruptions in the Red Sea, caused by attacks by Yemen's Houthi rebels, have led to increased delivery times and costs, potentially increasing inflation. CEO Vincent Clerc stated that the company is absorbing costs to maintain the global supply chain and does not expect significant profits from the situation.

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