You are here

Maersk shares dive as China blocks EU pact

Proposed accord will restrict competition on the busiest Asia-Europe container routes: Beijing

BT_20140618_BLOCK18_1136607.jpg
Hitting the bottom: Shares of Maersk, the world's biggest container line, fell as much as 8.3 per cent yesterday, the steepest intraday decline since May 16, 2012. - PHOTO: AFP

[HONG KONG] China blocked the formation of a global alliance by the world's three biggest shipping lines in a surprise move that ignored Western approval of the plan and sent AP Moeller-Maersk A/S shares tumbling the most in two years. The Chinese Ministry of Commerce said on its website that

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom