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Maersk cuts profit outlook due to weak shipping market

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AP Moller-Maersk said on Friday it downgraded its profit outlook for 2015 by US$0.6 billion to an underlying result of around US$3.4 billion.

[COPENHAGEN] AP Moller-Maersk said on Friday it downgraded its profit outlook for 2015 by US$0.6 billion to an underlying result of around US$3.4 billion.

The Copenhagen-based shipping and oil conglomerate said market conditions world-wide have been weaker than the group expected. "Particularly the container shipping market deteriorated beyond the group's expectations especially in the latter part of third quarter and October," it said.

REUTERS