Shipper sails to net loss in H1
Source: Agencies |
August 22, 2009, Saturday
|
Print Edition
Print Edition
DANISH container shipping and oil group A.P. Moller-Maersk A/S yesterday posted a six-month net loss of US$540 million, citing a drop in global shipments of goods amid the economic crisis.
During the year-ago period, net profit was US$2.45 billion, the world's largest shipper said. Revenue in the six months sank 25 percent to US$22.75 billion, from US$30.43 billion a year ago.
"We are in a crisis of historic dimensions," CEO Nils Smedegaard Andersen said.
Moller-Maersk said a 52 percent drop in the price of crude had a negative impact on its oil and gas activities, and that average rates for its tanker activities "were considerably lower" than in the first half of 2008.
"The global economic crisis had a severe negative impact on the activities of the A.P.Moller-Maersk Group," the Copenhagen-based company said.
The group gave a gloomy forecast, expecting no improvement in the second half of the year.
During the year-ago period, net profit was US$2.45 billion, the world's largest shipper said. Revenue in the six months sank 25 percent to US$22.75 billion, from US$30.43 billion a year ago.
"We are in a crisis of historic dimensions," CEO Nils Smedegaard Andersen said.
Moller-Maersk said a 52 percent drop in the price of crude had a negative impact on its oil and gas activities, and that average rates for its tanker activities "were considerably lower" than in the first half of 2008.
"The global economic crisis had a severe negative impact on the activities of the A.P.Moller-Maersk Group," the Copenhagen-based company said.
The group gave a gloomy forecast, expecting no improvement in the second half of the year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
