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Maersk maintains expectations despite low freight rates

Christian Wenande
August 13th, 2015


This article is more than 9 years old.

Investment experts had predicted a downgrade

The Danish shipping and oil giant Maersk will maintain its expectations for the year after its second financial quarter showed profits of 7.36 billion kroner after tax.

Despite the low container freight rates, Maersk has created profits of over 17 billion kroner in 2015, which group CEO Nils Smedegaard Andersen has deemed “satisfactory”.

“In a quarter influenced by lower-then-average container freight rates and a lower oil price, the Maersk Group has delivered a satisfactory underlying result of 7.36 billion kroner and will maintain expectations of an underlying result of 26.85 billion kroner for the year,” Andersen said.

“The turbulence of the oil sector has had a negative effect on the oil and offshore markets and in the oil-dependent nations. This has altered the conditions for Maersk Oil, Maersk Drilling, APM Terminals and APM Shipping Services, where plans that focus on converting to the volatile market conditions will replace the earlier profit and growth goals. Our balance is still strong.”

READ MORE: Maersk sells offshore support company

Surprise, surprise
In light of the results, the Maersk board has decided to buy back shares worth 6.8 billion kroner, Andersen said.

The strong result has surprised most investment experts, who had pegged Maersk to downgrade its expectations for the year.


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Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

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At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”