Tuesday , December 12 2017

Maersk sees falling freight rates in bearish sign for trade

epa03704412 (FILE) A file photo dated 29 April 2013 showing the Maersk Line container ship Ebba Maersk prior to entering the Busan New Container Terminal in South Korea's largest port city of Busan, South Korea. 
Danish shipping and oil group AP Moller-Maersk said 17 May 2013 it was 'satisfied' with first-quarter net profits of 790 million dollars, despite the 33-per-cent drop. Net profit in the corresponding business period of 2012 had reached 1.2 billion dollars, but that result included one-time gains from a divestment and a tax settlement in Algeria. Turnover in the business period was down 2 per cent year-on-year to 14 billion dollars, the conglomerate said. The group operates container shipper Maersk Line, which reported a profit of 204 million dollars, compared with a loss of 599 million dollars year-on-year. The group cited lower costs as a factor.
The 170,794-ton vessel can carry 15,500 6-meter containers.  EPA/YONHAP SOUTH KOREA OUT

Bloomberg The world’s largest container shipping line says international freight rates are reversing after climbing for most of this year, raising questions about the sustainability of the global trade recovery. Decade-old oversupply issues swamped demand for containerised sea trade in the third quarter, a senior official at Maersk Line Ltd. ...

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