News / Disappointing Q4 sees Maersk Line miss profit target for 2017

© Philipmorch

Tougher market conditions, due to lower freight rates and higher fuel costs in the final quarter, meant that Maersk Line missed its full-year profit target.

Maersk Group’s guidance – which it reiterated in November – was for an improvement of around $1bn for the carrier, which lost $384m in 2016.

And despite the Petya cyber attack in the summer, Maersk was confident it could still achieve its guidance.

However, requiring a modest $158m profit in the fourth-quarter, Maersk Line surprised analysts by recording a surplus ...