Chris Bryant, Columnist

Maersk's Busted Hedge

Synchronized moves in energy and freight torpedo revenues

February 10, 2016 at 12:47 PM UTC

Chris Bryant is a Bloomberg Opinion columnist covering industrial companies in Europe. Previously, he was a reporter for the Financial Times.

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In "normal" times, AP Moeller Maersk's oil production assets should provide a natural fuel-price hedge for its container shipping business, the world's largest. But these aren't normal times.

An 84 percent drop in Maersk's 2015 profit revealed that its hedge isn't working right now and the company's big bet on oil and shipping has come unstuck.