Maersk returns to profit as container shipping improves - Newschannel 6 Now | Wichita Falls, TX

Maersk returns to profit as container shipping improves

COPENHAGEN, Denmark (AP) - Danish shipping and oil group A.P. Moller-Maersk says it made a fourth quarter profit of $386 million, up from a loss of $2.7 billion a year earlier, as revenue rose to $8.2 billion from $7 billion.

The company said Friday that the rise in earnings was driven primarily by its container shipping business, Maersk Line.

CEO Soren Skou said Friday that 2017 as a whole had been "unusual" because of a cyber-attack in June, which mainly affected Maersk Line, hurting its results.

For the full year, Maersk reported a loss of $1.2 billion, up from a 2016 loss of $496 billion.

Maersk shares dropped 3.4 percent to 10,005 kroner in Copenhagen.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • InternationalMore>>

  • UK prime minister seeks post-Brexit EU security alliance

    UK prime minister seeks post-Brexit EU security alliance

    Saturday, February 17 2018 5:29 AM EST2018-02-17 10:29:56 GMT
    Saturday, February 17 2018 2:51 PM EST2018-02-17 19:51:03 GMT
    British Prime Minister Theresa May is calling on her country's European Union partners not to let "rigid institutional restrictions" get in the way of a wide-ranging post-Brexit security partnership.
    British Prime Minister Theresa May is calling on her country's European Union partners not to let "rigid institutional restrictions" get in the way of a wide-ranging post-Brexit security partnership.
  • Israeli PM: Iran becoming increasingly aggressive in region

    Israeli PM: Iran becoming increasingly aggressive in region

    Sunday, February 18 2018 5:00 AM EST2018-02-18 10:00:36 GMT
    Sunday, February 18 2018 5:00 AM EST2018-02-18 10:00:37 GMT
    Israeli Prime Minister Benjamin Netanyahu says an international agreement with Iran has emboldened the regime in Tehran to become increasingly aggressive in the region.
    Israeli Prime Minister Benjamin Netanyahu says an international agreement with Iran has emboldened the regime in Tehran to become increasingly aggressive in the region.
  • Poland tries to frame PM's Holocaust remarks as frank debate

    Poland tries to frame PM's Holocaust remarks as frank debate

    Sunday, February 18 2018 5:00 AM EST2018-02-18 10:00:31 GMT
    Sunday, February 18 2018 5:00 AM EST2018-02-18 10:00:32 GMT
    A spokeswoman for Poland's prime minister has sought to downplay his words equating Polish collaborators in the Holocaust to alleged "Jewish perpetrators" by saying they were an invitation to a frank debate about...
    A spokeswoman for Poland's prime minister has sought to downplay his words equating Polish collaborators in the Holocaust to alleged "Jewish perpetrators" by saying they were an invitation to a frank debate about the World War II crimes against Jews.
Powered by Frankly