Maersk’s Container Line to Post Loss as Freight Rates Fall
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A.P. Moeller-Maersk A/S said its container shipping line, the world’s biggest, will lose money this year, lowering a previous forecast of a “modest” profit as freight rates plunged.
Maersk Line posted a third-quarter net loss of 1.58 billion kroner ($293 million) compared with profit of 5.9 billion kroner a year earlier, the Copenhagen-based company said today. Its parent, which also owns the Nordic region’s second-largest oil company, reported profit that missed analyst estimates.