Danish shipping & oil giant, Moller-Maersk said it has cut its profit outlook by more than half a billion U.S. dollar. Maersk's CEO talks to CNBC.
The shipping industry might be suffering a tough period but Moller-Maerskis prepared to weather the storm.
European stocks followed Asian equities lower on Monday on reports that China could stop propping up its equity markets.
Maersk is to lead a £3 billion project to develop the largest gasfield discovered in the U.K. North Sea for a decade, the FT reports.
Strength in the U.S. dollar continues to weigh on dividend payouts, which fell around the world for a third consecutive quarter between April and June, new data from Henderson Global Investors showed.
European equities closed higher on Thursday, as investors eyed developments in the Chinese yuan and Greece's third bailout program.
European equities reversed earlier gains to end lower on Wednesday with investors reacting to weaker-than-expected U.S. retail data.
The chief executive of Danish oil and shipping group Moller-Maersk told CNBC that overcapacity continues to dog the shipping industry.
After the seizure of a Maersk cargo ship by Iran in the Strait of Hormuz, shipping experts said the action could destabilize global relations if repeated.
The world’s shipping lines risk bankruptcy and will have to shed assets in order to stay afloat, an industry expert has warned CNBC.
European equities closed down on Tuesday as investors reacted to fresh economic data from the euro zone and booked some profits after a stellar rally in the previous session.
Europe ended lower on Wednesday as investors focused on corporate earnings and U.S. Federal Reserve Chair Janet Yellen's speech to Congress.
Danish shipping and oil group Moller-Maersk predicted a rise in global demand for seaborne containers this year.
European stocks ended the day in the green on Tuesday afternoon, after fluctuating throughout in the day.
European shares closed higher on Tuesday, boosted by easing tensions in Ukraine and stellar earnings reports.
China's rejection of a game changing container shipping alliance has deepened pessimism in an industry plagued by overcapacity, analysts say.
European shares closed higher on Tuesday, bouncing back from Monday's losses.
A.P. Moller-Maersk said on Tuesday it had dropped its ship pooling plan after China's Ministry of Commerce announced it had not approved it.
European shares closed slightly up on Wednesday, after wavering throughout the day, as investors looked towards central bank policy.
Danish shipping and oil group Moller-Maersk reported a first-quarter net profit above forecast thanks to doubling of profit in container shipping business Maersk Line.