Maersk’s profit slashed amid low freight rates
The Maersk Group has announced an 82% year-on-year drop in its 2015 profit amid sharply reduced freight rates and falling oil price.
The company, which was hit by a widening supply-demand gap in the second half of 2015, reported that its profit went down from US$5.2bn in 2014 to US$925m last year, while its underlying profit dropped by 31% from US$4.5bn in 2014 to US$3.1bn in 2015.
The group experienced significantly lower profits at several of its businesses, including the carrier Maersk Line and port operator APM Terminals (APMT).
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