AP Moller-Maersk warns of negative results for 2009

“The result is impacted by the extraordinary global recession, which affects all our markets negatively,” says Group CEO Nils Andersen.

The Group registered a net loss of US$373m in the Q1 compared with a net profit of US$1.05m in the same period of 2008. Volumes transported by Maersk Line fell 14% and average freight rates were 24% lower compared with the same period last year.

“Our priorities for the Group remain unchanged. We will continue our efforts to strengthen Maersk Line’s competitiveness, building the strength of our people and organisation, reducing costs and improving our environmental record, which will strengthen the Group both in the short and in the long-term,” added Andersen.