Martin Munk News

Maersk: Shipping Recovery Coming

Maersk Line posts loss, but company sees improvement. A.P. Moller-Maersk beat first-quarter net profit forecasts on Thursday, boosted by the energy business it plans to spin off, but also reported signs of improvement at its long-suffering container shipping business. Shares in the Danish conglomerate climbed almost 5 percent after it said a gradual recovery in freight rates should boost earnings at Maersk Line, the world's biggest container shipping business, over the rest of the year. Maersk has been hit by the double blow of low oil prices at its energy arm and sliding prices in its shipping business due to lacklustre global trade and industry overcapacity.