date:May 06, 2016
p's main shipping operations, Maersk Line, showed a profit of $37 million, down from $714 million a year earlier mainly because of a 26 percent drop in freight rates caused by lower bunker prices and poor market conditions.
CEO Nils Smedegaard Andersen conceded that market conditions remained challenging, but maintained that the Copenhagen-based group was continuing to adjust our cost base to the new conditions and maintain a good operational performance across our businesses.
At the end of th