Largest Shipping Container Company Loses Billions

Container traffic losses have been expensive for A.P.Møller-Mærsk which has returned a nine-month loss of DKK 3.85 billion.
A.P. Møller-Mærsk, which is Denmark’s biggest group, has emerged from the first nine months of 2009 with a loss of DKK 3.85 billion according to the company’s latest interim statement.

Revenues have dropped considerably as a result of the financial crisis, and in particular as a result of a drop in container traffic.

Apart from a five percent drop in traffic, container rates have dropped some 30 percent resulting in DKK 8.4 billion in the red for container traffic alone.

”As expected, the A.P. Moller - Maersk Group was still negatively affected by the challenging market conditions in the third quarter of 2009, particularly in the markets for the Group’s container vessels and tankers,” says Group CEO Nils Smedegaard Andersen.
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