A.P.Moller-Maersk expects a profit in 2010
04-03-2010
11:15
After today’s announcement of the weakest annual result ever, A.P.Moller-Maersk expects a modest profit for 2010.
CEO Nils Smedegaard Andersen and the top managers of Denmark’s largest business refrain from revealing precise expectations for the 2010 result.
»The outloook for 2010 is subject to considerable uncertainty, not least due to developments in the global economy. Specific uncertainties relate to the container freight rates, transported volumes, the USD exchange rate and oil prices,« the Group wrote in the annual report.
However, the cash flow from operating actitivites is expected to be considerably above the level in 2009, where it was DKK 25.1 billion.
The big question has been the Maersk management’s expectations for the container market this year. A turnaround in the container business is necessary to transform last year’s loss into a profit.
However, the rates level for 2010 is not expected to lead to an acceptable return in 2010, it appears of the report.
»In the container shipping market, a 7-10 per cent addition of tonnage is expected for the global container fleet. Cargo volumes are expected to rise by 3-5 per cent in 2010 relative to 2009 and freight rates are also expected to rise. This will lead to a significant improvement in results if the level of vessels taken out of service is sustained,« the company wrote.
CEO Nils Smedegaard Andersen and the top managers of Denmark’s largest business refrain from revealing precise expectations for the 2010 result.
»The outloook for 2010 is subject to considerable uncertainty, not least due to developments in the global economy. Specific uncertainties relate to the container freight rates, transported volumes, the USD exchange rate and oil prices,« the Group wrote in the annual report.
However, the cash flow from operating actitivites is expected to be considerably above the level in 2009, where it was DKK 25.1 billion.
The big question has been the Maersk management’s expectations for the container market this year. A turnaround in the container business is necessary to transform last year’s loss into a profit.
However, the rates level for 2010 is not expected to lead to an acceptable return in 2010, it appears of the report.
»In the container shipping market, a 7-10 per cent addition of tonnage is expected for the global container fleet. Cargo volumes are expected to rise by 3-5 per cent in 2010 relative to 2009 and freight rates are also expected to rise. This will lead to a significant improvement in results if the level of vessels taken out of service is sustained,« the company wrote.
*****||*****A.P.Moller-Maersk expects a profit in 2010*****||*****After today’s announcement of the weakest annual result ever, A.P.Moller-Maersk expects a modest profit for 2010.
CEO Nils Smedegaard Andersen and the top managers of Denmark’s largest business refrain from revealing precise expectations for the 2010 result.
»The outloook for 2010 is subject to considerable uncertainty, not least due to developments in the global economy. Specific uncertainties relate to the container freight rates, transported volumes, the USD exchange rate and oil prices,« the Group wrote in the annual report.
However, the cash flow from operating actitivites is expected to be considerably above the level in 2009, where it was DKK 25.1 billion.
The big question has been the Maersk management’s expectations for the container market this year. A turnaround in the container business is necessary to transform last year’s loss into a profit.
However, the rates level for 2010 is not expected to lead to an acceptable return in 2010, it appears of the report.
»In the container shipping market, a 7-10 per cent addition of tonnage is expected for the global container fleet. Cargo volumes are expected to rise by 3-5 per cent in 2010 relative to 2009 and freight rates are also expected to rise. This will lead to a significant improvement in results if the level of vessels taken out of service is sustained,« the company wrote.*****||*****
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