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Maersk Line sustains $571 million 1Q loss

Wednesday, May 16, 2012

Maersk Line had operating losses of $571 million in the first quarter, a more than $1 billion slide from the $451 million the line made in the corresponding quarter in 2011, the line’s parent company said Wednesday. Liner revenue rose 7.4 percent to $6.3 billion, while container volume rose 22 percent to 4.4 million TEUs in the first quarter. The poor performance from the liner division saw A.P. Moller-Maersk Group operating profits recede 44.5 percent year-on-year, to...

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