Maersk maintains expectations despite low freight rates

Investment experts had predicted a downgrade

Christian Wenande

Aug 13, 2015

The Danish shipping and oil giant Maersk will maintain its expectations for the year after its second financial quarter showed profits of 7.36 billion kroner after tax.

Despite the low container freight rates, Maersk has created profits of over 17 billion kroner in 2015, which group CEO Nils Smedegaard Andersen has deemed “satisfactory”.

“In a quarter influenced by lower-then-average container freight rates and a lower oil price, the Maersk Group has delivered a satisfactory underlying result of 7.36 billion kroner and will maintain expectations of an underlying result of 26.85 billion kroner for the year,” Andersen said.

“The turbulence of the oil sector has had a negative effect on the oil and offshore markets and in the oil-dependent nations. This has altered the conditions for Maersk Oil, Maersk Drilling, APM Terminals and APM Shipping Services, where plans that focus on converting to the volatile market conditions will replace the earlier profit and growth goals. Our balance is still strong.”

READ MORE: Maersk sells offshore support company

Surprise, surprise
In light of the results, the Maersk board has decided to buy back shares worth 6.8 billion kroner, Andersen said.

The strong result has surprised most investment experts, who had pegged Maersk to downgrade its expectations for the year.

“Talents, start using AI tools now,” says Siri and Change.org founder

In an exclusive interview with The Copenhagen Post, the founder of Siri and Change.org, and currently VP of AI Experience at Airbnb, gives young talents advice on how to deal with the job market changed by artificial intelligence.
Testing free school meals for 20,000 kids and tax deduction for homeowners in 2025 Finance Act

The government has reached an agreement on next year’s Finance Act with SF and Radikale Venstre. A test on free school meals for a limited number of children will be introduced. Homeowners will get more options for deductions for home improvements
Make your voice heard as an expat

In my last op-ed, I made the case that we, expats living in Denmark, need to step up if we want to tackle the headaches that seem baked into expat life—e.g., counterintuitive laws and endless paperwork. With almost 16% of Denmark’s population made up of internationals, we actually have the numbers to influence real change. But after publishing the last op-ed, several readers contacted me and asked: Okay, but what can we actually do?
Danish politicians will double life science exports in a few years

“Strategy for life science” is a policy agreement to support the pharmaceutical industry’s opportunities to double exports to DKK 350 billion towards 2030
Royal House unveils new portraits of King Frederik and Queen Mary

Ten months after Frederik went from crown prince to king, new civil portraits of the new royal couple have been taken.
“Without internationals, we wouldn’t have the people we need,” says Fujifilm

Fujifilm’s Hillerød facility thrives with a diverse workforce, employing over 1,800 people from more than 65 nationalities. Morten Munk, Director of Global Alliance Management, highlights how the company’s rapid growth relies on attracting international talent due to Denmark’s limited pool of scientific professionals.

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.

5 Dec: A guided tour of Christiansborg

Career

“Talents, start using AI tools now,” says Siri and Change.org founder

In an exclusive interview with The Copenhagen Post, the founder of Siri and Change.org, and currently VP of AI Experience at Airbnb, gives young talents advice on how to deal with the job market changed by artificial intelligence.
“Without internationals, we wouldn’t have the people we need,” says Fujifilm

Fujifilm’s Hillerød facility thrives with a diverse workforce, employing over 1,800 people from more than 65 nationalities. Morten Munk, Director of Global Alliance Management, highlights how the company’s rapid growth relies on attracting international talent due to Denmark’s limited pool of scientific professionals.
“Now the biggest challenge is to retain internationals”, says Ferring

Mads Hougaard, senior HR director at the pharmaceutical company, explains that “it is also a challenge for society itself. I think collaboration between institutions, companies, and stakeholders could be beneficial.”

Want to advertise your job with CPH Post?

Jobs