March 19, 2020 / 12:12 PM / 20 days ago

BRIEF-Moody's Says Global Shipping Industry Outlook Changed To Negative As Coronavirus Threatens Earnings

March 19 (Reuters) - Moody’s Ratings:

* MOODY’S SAYS GLOBAL SHIPPING INDUSTRY OUTLOOK CHANGED TO NEGATIVE AS CORONAVIRUS THREATENS EARNINGS

* MOODY’S SAYS EARNINGS OF RATED SHIPPING COMPANIES WILL LIKELY DECLINE BY AROUND 6%-10% IN 2020

* MOODY’S, ON GLOBAL SHIPPING INDUSTRY, SAYS SHIPPING DEMAND SHRINKING ON ECONOMIC DISRUPTION, FALLING MANUFACTURING OUTPUT

* MOODY’S SAYS NEGATIVE OUTLOOK FOR GLOBAL SHIPPING INDUSTRY REFLECTS EXPECTED DECLINE IN 2020 EBITDA AMID SHARPLY REDUCED DEMAND FOR CONTAINER, DRY BULK SHIPPING SERVICES

* MOODY’S, ON GLOBAL SHIPPING INDUSTRY, SAYS THERE IS DOWNSIDE RISK THAT THE EBITDA OF SHIPPING COMPANIES GLOBALLY COULD DECLINE BY 25%-30% Source text for Eikon:

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