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.”