News / Collapsing freight rates hit Maersk as it posts $114m half-year loss, despite above-market volume wins

Maersk Line plunged $151m into the red in the second quarter dragging down its half-year results to a net loss of $114m, compared to a profit of $1.2bn in the first six months of 2015.

The carrier’s second quarter revenues collapsed by 19% to $5.06bn, despite a 6.9% volume increase to 5.3m teu, caused by a massive 24% decline in Maersk Line’s average rate, which dropped to $858 per teu.

The newly appointed Maersk Group chief executive Soren Skou, this morning giving ...