Thursday, March 4, 2010
Top Story
Maersk reports first-ever annual loss
Denmark’s AP Møller-Maersk made a $1.02bn net loss in 2009 – its first – thanks to a $2.09bn shortfall at its container shipping division.
The group loss, which compared with a $3.46bn net profit for 2008, came following the worst year in the history of container shipping, which accounts for more than 40 per cent of the Maersk group’s revenue.
It was also a bad year for tanker markets, particularly for the oil product tankers, of which Maersk is the world’s largest operator.
The company, which is listed but controlled by the McKinney-Møller family, expressed concern about the outlook for some of its markets for 2010. Nils Andersen, chief executive, nevertheless expected the group to make “modest profits” in the current year.
-Financial Times
For the full story: www.ft.com
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