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Maersk 'Supertanker' Takes Time To Turn Around, Main Shareholder Says

Published on Apr 2 2019 9:49 AM in Supply Chain tagged: Denmark / Maersk / Shipping / A.P. Moller-Maersk

Maersk 'Supertanker' Takes Time To Turn Around, Main Shareholder Says

A.P. Moller-Maersk is a "supertanker" that takes a long time to turn around, said Ane Maersk Mc-Kinney Uggla, chairwoman of the A.P. Moller Foundation, which owns a controlling stake in the Danish shipping company.

"It's been a tough year, but there have also been many good things in our transformation," she told reporters ahead of the shipping company's annual general meeting in Copenhagen on Tuesday.

In February, A.P. Moller-Maersk reported full-year revenue of €39 billion, up from €30.9 billion the previous year, an increase of 26%.

Profit at the shipping giant was up 8% for the full-year.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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