Freight News, Sea

Maersk Group Adjusts 2015 Expectations

[ October 27, 2015   //   ]

As a consequence of the deteriorated market, the Maersk Group has adjusted its expectation for the 2015 result from an underlying result around $4.0 billion to $3.4 billion.
The previous expectation, as announced in the Q2 report, was based on an underlying result contribution from Maersk Line above $2.2 billion. The Group now expects an underlying result from Maersk Line of around $1.6 billion.
The Group’s sensitivity guidance for the last six months of 2015 states that a general decline in the freight rate of 100 USD/FFE will impact Maersk Line’s result negatively by around $0.5 billion, and that a volume reduction of 100,000 FFE will have a negative impact of around $0.1 billion.
All other business units maintain their result guidance for 2015.
“It is regrettable that we have to adjust our expectations for the 2015 result. All of our business units delivered a positive result in the third quarter, despite difficult conditions across our industries,” says Group CEO Nils S. Andersen.
The container shipping market has deteriorated beyond the Group’s expectations especially in the later part of Q3 and October and the Group does not expect market recovery in 2015.
“Maersk Line has over the years taken steps to ensure a cost effective and resilient operation, but the current deterioration in the container shipping market is impacting also our business,” says the Group CEO.