Maersk Line has suffered a US$116m loss in the third quarter of 2016 as average freight rates fell by 16% year-on-year.
The world’s largest carrier’s third quarter loss compares to a US$264m profit in the same period last year.
The company’s revenue went down by 11% year-on-year to US$5.4bn in the third quarter of 2016 due to the decline in average freight rates to 1,811 US$/FFE (forty-foot equivalent, 1 FFE = 2 TEU).
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