The Maersk group has
warned that it is facing
conditions significantly
worse than the 2008
financial crisis. This
after posting a net loss
of US$2.5billion in the
fourth quarter of 2015.
Group CEO, Nils
Andersen, said: “It is
worse than in 2008. The
oil price is as low as its
lowest point in 2008-09.
Freight rates are lower.
The external conditions
are much worse but we
are better prepared.”
The group owns the
world’s largest container
shipping company and
is seen as a bellwether of
global trade.
CAPTION
CEO of the Maersk Group,
Nils Andersen.
Another shipping crisis looming?
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