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Maersk cuts profit outlook due to weak shipping market
[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.