‘Markets are really, really difficult at the moment’: Maersk’s Andersen on a tricky Q1

‘Markets are really, really difficult at the moment’: Maersk’s Andersen on a tricky Q1

Low oil prices and dire container freight rates saw net profit slide dramatically in the first quarter for Maersk Group. The company recorded a $211m net profit, down from $1.54bn in the same period of 2015.

Chief executive Nils Andersen declared he was “satisfied” with the result. “Markets are really, really difficult at the moment,” Andersen said in a video interview on the company’s website.

The Maersk boss added in an official statement: “We maintain our focus on strengthening the group’s position in the market and have completed acquisitions within APM Terminals and Maersk Oil, and in Maersk Line we have defended our market leading position.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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