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A.P. Moller-Maersk, the Danish container giant, lowered its forecast for the global transport market rattled by President Donald Trump’s trade war.

Danish transport company DSV will start a large bond sale as soon as this year to help pay for its $15.4 billion takeover of DB Schenker ahead of an expected completion in 2025.

A.P. Moller Maersk and Hapag-Lloyd plan to begin their partnership sailing south of Africa, indicating they expect the Red Sea to remain unsafe well into 2025.

DSV received commitments from investors for more than half of a $5.5 billion sale of new shares as the Danish freight-forwarding company finances its takeover of DB Schenker.

Deutsche Bahn said bids submitted by private equity fund CVC Capital Partners remain “inferior” to the winner’s offer, the latest twist in the $16 billion battle for its logistics unit.

AP Moller-Maersk added a local port disruption surcharge for all cargo moving to and from the East Coast and Gulf Coast terminals, to cover higher costs from “potential labor disruptions.”

DSV, founded by 10 Danish truckers in the 1970s, has grown through a string of acquisitions in the fragmented transport industry, including buying targets that were larger than itself.

A.P. Moller-Maersk, a bellwether for global trade, increased its full-year guidance due to higher freight rates caused by supply chain disruptions following attacks in the Red Sea.

A.P. Moller-Maersk, a bellwether for global trade, said the world’s supply lines are more impacted than previously expected by the ripple effects coming from the congestion in the Red Sea.

Shipping giant A.P. Moller-Maersk A/S will redirect its vessels to sail south of Africa to avoid the Red Sea conflict area where Houthi militants have attacked several ships.