Biggest container line reports net loss

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The market leader in container liner shipping, Maersk Line, has reported a[ds_preview] net loss of 116mill. $ for the third quarter. This reflects a sharp decline compared to the corresponding period of 2015, when a profit of 264mill. $ was reached. For the first nine months of this year, Maersk reported a loss of 230mill. $ after a profit of 1,5 bn. $ in 2015. The latest result was affected by continued low freight rates, down 16% y-o-y. As a result, the revenue slipped by 16% or 659mill. $ to 5.4 bn. $.