AP Moller-Maersk had a poor quarter as expected due to the collapse in the average container freight rate (-26%) and the oil price (-37%). Q1 16 earnings Revenue decreased to $8,539m (-19%). In container shipping, there was an increase in volume (+7% to 2.36m FFE) which was more than offset by the drop in average freight rates (-26% to $1,857/FFE). Maersk Line’s revenue was down 20% to $4,974m. In oil/gas, the collapse in the average oil price (-37% to $34/bl) was not offset by the incr
04 May 2016
Affected by the drop in freight rates and the oil price
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Affected by the drop in freight rates and the oil price
A.P. Moller - Maersk A/S Class B (MRSK:WBO) | 0 0 2.1% | Mkt Cap: 217,400m
- Published:
04 May 2016 -
Author:
Hélène Coumes -
Pages:
3
AP Moller-Maersk had a poor quarter as expected due to the collapse in the average container freight rate (-26%) and the oil price (-37%). Q1 16 earnings Revenue decreased to $8,539m (-19%). In container shipping, there was an increase in volume (+7% to 2.36m FFE) which was more than offset by the drop in average freight rates (-26% to $1,857/FFE). Maersk Line’s revenue was down 20% to $4,974m. In oil/gas, the collapse in the average oil price (-37% to $34/bl) was not offset by the incr