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Maersk docks 2016 with billion-kroner loss

Christian Wenande
February 8th, 2017


This article is more than 7 years old.

Chairman steps down after 14 years at the helm

It’s been rough sailing for Maersk in 2016 (photo: Maersk)

The Danish oil and shipping colossus Maersk has revealed its financial results for 2016, and the news is far from good.

The company came under heavy pressure in its container shipping unit last year due to dwindling shipping prices and ended up with an overall loss of 13.2 billion kroner for the year.

“2016 was a difficult year financially, with headwinds in all of our markets. However, it was also a year when we decided to substantially transform AP Møller – Maersk for the future,” said Søren Skou, the CEO of Maersk Group.

“We have set a new course that over the next few years will lead to AP Møller – Mærsk becoming a focused container shipping, logistics and ports company with the aim of growing revenue again.”

Another issue lies within Maersk’s oil division where many of its rigs, ten last year compared to three the year before, are either not leased out or only partially so.

READ MORE: Monster maritime deal: Maersk acquires huge German shipping company

Chairman takes a bow
In connection with the release of the financial results, Michael Pram Rasmussen, has stepped down from his position as the chairman of the board of directors. Jim Hagermann Snabe will succeed him.

“Since 1999, Michael Pram Rasmussen has served AP Møller – Maersk as a board member, 14 years as our chairman,” said Ane Mærsk Mc-Kinney Uggla, the vice chairman.

“I am very grateful for his many contributions and relentless commitment to our group, during good as well as hard times. Michael has anchored the ongoing transformation of the company, with solid business insight as well as loyalty to our name. I look forward to welcoming Jim Hagemann Snabe to take the torch that will lead us into the future.”


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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.

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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.”