ITF Unions in Maersk
Maersk Line falls behind rivals
9 July 2008
From no. 3 to 44 in five years on international shipping list.
The financial results at Maersk Line are not at all impressive at present. This is emphasised by a new ranking of global shipping companies by the magazine Marine Money International.
The magazine has ranked 99 global shipping lines. The list considers a variety of financial parameters based on the latest accounts. Maersk Line comes in at a disappointing 44th out of 99 companies.
Marine Money looked at development in issues such as operating margin, return on equity and total return to shareholders. Five years ago Maersk was listed in third place, writes Danish newspaper Børsen.
According to the Dutch bank ING – which has put out a sell recommendation for Maersk shares – Maersk Line earnings will be hit hard in the next 6-18 months by the global economic downturn. The company’s present restructuring process will not save enough to offset this.
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