The Maersk group has, as a “consequence of the deteriorated market”, adjusted its expectation for the profit outlook for 2015 from an anticipated US$4.0 billion to US$3.4bn – a shortfall of US$600 million.
According to a statement issued on the Maersk group’s website, a general decline in freight rates has impacted Maersk Line’s result negatively. All other business units maintain their result projections for 2015.
“It is regrettable that we have to adjust our expectations for the 2015 result. All of our business units delivered a positive result in the third quarter, despite difficult conditions across our industries,” said group CEO Nils S Andersen.
He commented that the container shipping market had deteriorated beyond the group’s expectations, especially in the later part of Q3 and October, noting that Maersk did not expect market recovery in 2015.
“Maersk Line has over the years taken steps to ensure a cost-effective and resilient operation, but the current deterioration in the container shipping market is impacting our business as well,” said Andersen.
