Cyber-attack impacts Maersk results

For fresh fruit and vegetable marketing and distribution in Asia
Luisa Cheshire

BY LUISA CHESHIRE

Cyber-attack impacts Maersk results

The financial impact from Maersk's July cyber attack will likely dent its Q3 profitability, reports JOC.com

Cyber-attack impacts Maersk results

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Maersk's Q3 results, due to be released today (7 November) will reflect the financial damage brought about by its July cyber breach, which forced Maersk to shut down all communications and affected normal business for several weeks.

It remains to be seen whether the impact will be enough to offset the profitability earned from strong volume on key east-west trades, JOC.com said.

Maersk's loss of business brought about by the NotPetya cyber virus is estimated to have been as high as US$300m, the report said.

Other container shipping groups, such as OOCL, have posted strong growth in the third quarter, particularly on Asia-Europe routes, JOC.com said.

OOCL volumes rose 25 per cent year-on-year, while revenues increased by 26.5 per cent to US$1.45bn, according to the report.
 

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