Shipping giant seen as bellwether for global economy cites overcapacity,low demand and aggressive pricing for larger-than-expected profit fallAP Møller-Mærsk has downgraded its full-year outlook for underlying profit by $600m (£390m) to approximately $3.4bn, citing deterioration in the container shipping market. The Copenhagen-based shipping and oil conglomerate, and which controls the worlds largest container shipping company Mærsk Line,said global market conditions were weaker than expected. Related: German and French economies strengthen unexpectedly - live Continue reading...
Source: theguardian.com