Freight News, Sea

Big loss for Maersk Line

[ November 3, 2016   //   ]

Maersk Line says it made a $116 million loss in the third quarter of the year, compared with a $264m in the same quarter of 2015. Average freight rate decreased by 16% compared to the third quarter of 2015, but it had increased 5.5% compared to the second quarter of 2016. Volumes were 11% higher as Maersk Line was able to win market share, partly due to the collapse of Hanjin Shipping.