SHIPPING BUSINESS: Maersk is changing business strategy

Last year, Maersk Line posted a net loss of USD540 million, while the oil division reported a profit of USD2.1 billion, the drilling unit earned USD495 million and ports made USD649 million.

Maersk's container business has been affected by a slowdown in routes between Europe and Asia, where it has cut capacity this year amid a volatile outlook for the industry.

The group said earlier this month that it expected global demand for seaborne containers to rise by three percent this year, which was lower than the four percent stated in the second quarter.

Maersk Line is the group's main subsidiary, which holds 16% of the global market share. It said it expects a "modest positive result" this year after freight rates rose in the second half of the year. (AFP)