COPENHAGEN: AP Moller-Maersk A/S said its container line, the world’s biggest, will be profitable in 2017 after the business lost money last year. Maersk Line’s underlying result will be more than US$1bil better than the US$384mil loss it booked in 2016, the Copenhagen-based company said in a stock-exchange statement yesterday. The company also said its chairman, Michael Pram Rasmussen, is stepping down after almost 18 years on the board of Maersk. Maersk expects the global container market to grow 2-4 % in 2017. Maersk is working on splitting off its four energy units, which include its North Sea petroleum producer, Maersk Oil, as the company focuses on its transport operations.

Source: The Star February 08, 2017 22:07 UTC