zoom Danish shipping and energy conglomerate Maersk has lowered its expectations for Maersk Line’s business results for 2015 amid depressed market.The previous expectation, as announced in the Q2 report, was based on an underlying result contribution from Maersk Line above USD 2.2bn. However, this has now been reduced to USD 1.6bn.“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 USD 0.5bn, and that a volume reduction of 100,000 FFE will have a negative impact of around USD 0.1bn,” Maersk said in an announcement.Nevertheless, Maersk said that 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 Maersk Group CEO Nils S. Andersen.The group’s preliminary reported result for Q3 is USD 778m (USD 1,5bn) with an underlying result of USD 662m (USD 1,3bn). The preliminary reported result for the first nine months is USD 3,436m (USD 5bn) with an underlying result of USD 3,080m (USD 3,7bn).Maersk attributed the downturn to deterioration of the container shipping market beyond the group’s expectations especially in the later part of Q3 and October which are not expected to rebound 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 Andersen.In Q3 Maersk Line achieved an average freight rate of 2,163 USD/FFE (2,679 USD/FFE in Q3 2014) and carried 2,427,000 FFE (2,401,000 FFE in Q3 2014) which were lower than expected.“As a result of the market circumstances, initiatives have been taken to adjust Maersk Line’s network accordingly,” the announcement reads.
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It may not have been exactly the things that I would have liked but I think this is an achievement. “I will not take their names. He said SP had fielded candidates in minority-dominated areas in Gujarat to cut into secular votes and helped Modi win the elections. Since 1983, download Indian Express App More Related News (Express Archive) Related News Police are likely to question union minister Shashi Tharoor in connection with the death of his wife Sunanda. This was two days after Sunanda alleged that her husband was having an affair with a Pakistani journalist. were openly debated in the executive. “There is a Hindi term for what happened to us in Bihar and Delhi — supra saaf ho gaya (a clean sweep). Related News Two back-to-back merger deals in the retail sector.
their exposure to the retailing industry has been limited to around Rs 1,The drought situation in the state has already created unrest among rural Maharashtra MLAs. They will be extradited to India under the transfer of sentenced persons agreement, 2015 10:22 pm PM Modi on Thursday described India and Africa as bright spots of hope and economic opportunity and offered technology and credit to match rival China at a summit with more than 40 African leaders. 2015 9:01 pm Congress said that the ongoing tussle between Kejriwal and Jung will have a negative impact on the bureaucrats.By: Press Trust of India | New Delhi | Published: May 22 The company said it will now commence manufacturing and will sell “only after the newly manufactured products are also cleared by the designated three laboratories”. “FDCA had lifted the ban on Maggi in Gujarat after the Bombay High Court passed an order to lift the ban across India.” said Joyraj Sadhanidar, They are still scared to come out and tell the story.
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