Maersk says 2011 profit will be lower

first_img Tags: NULL KCS-content whatsapp More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Maersk says 2011 profit will be lower Share DENMARK’S AP Moller-Maersk said it will not repeat last year’s record earnings in 2011 due to expected lower oil output combined with uncertainty about freight rates and oil prices.The shipping and oil group beat 2010 forecasts on the back of a container shipping recovery and higher oil prices, swinging from its worst result in 2009, when the global economic crisis hit trade and shipping, to its best result ever.Maersk, which owns the world’s biggest container shipping company Maersk Line and produces oil and gas mainly in the North Sea and Qatar, posted a net profit of $5.01bn (£3.09bn) for 2010 against a loss of $1bn a year earlier. “Things look better going into 2011 than a year ago, but our share of oil production will be lower and we still see some uncertainty about the oil price and where container rates will end up,” said chief executive Nils Smedegaard Andersen. Wednesday 23 February 2011 8:48 pm whatsapp Show Comments ▼last_img

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