Maersk remains upbeat despite mixed results

Maersk Line suffered an underlying loss of US$80m in the first quarter of 2017 although the carrier still expects to improve its underlying result by US$1bn over the calendar year due to higher freight rates.

Despite a 4.4% overall increase in freight rates, the shipping line’s results were hit by higher bunker costs.

Rates on the East-West trades picked up by 23% to US$2,112per feu although these gains were hampered by a 4.3% fall on the North – South trades.