Mærsk Line downgrades profit forecast as global trade weakens
by Reuters from Economics | The Guardian on (#RCAT)
Shipping giant seen as bellwether for global economy cites overcapacity, low demand and aggressive pricing for larger-than-expected profit fall
AP Miller-Mirsk has downgraded its full-year outlook for underlying profit by $600m (390m) to about $3.4bn, citing deterioration in the container shipping market.
The Copenhagen-based shipping and oil conglomerate, which controls the world's largest container shipping company Mirsk Line, said global market conditions were weaker than expected.
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