Maersk Swings to First-Quarter Profit
A.P. Moller-Maersk reported a first-quarter profit compared with a loss a year ago, but revised its global container forecast downward, Bloomberg News reported.
The Copenhagen-based shipping company earned $204 million for the quarter, compared with a $599 million loss in the same period last year, Bloomberg said.
Revenue at its container business was stable at $6.3 billion, the Wall Street Journal reported.
Maersk, the world’s largest shipping line, revised its forecast for growth in global container demand down to a range of 2% to 4% from a previous 4% to 5% projection, Bloomberg reported.
