Shipper Moller-Maersk posts 'satisfactory' Q2 result despite lower freight rates, oil price

IndustriesAssociated Press

Denmark's shipping and oil group A.P. Moller-Maersk says has reaffirmed its full-year outlook after delivering what it called "a satisfactory result" in the second quarter despite lower average container rates and a lower oil price.

Overall profit dropped to $1.09 billion in the three-month period that ended June 30, from $2.3 billion. Revenue fell to $10.5 billion, down from $12 billion in the same period last year.

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The Copenhagen-based group said Thursday it expects an underlying result for 2015 of around $4.0 billion, and reiterated that its strategy was "to become a premium conglomerate."

Earlier this year, Maersk ordered nearly 30 container ships as part of its $15 billion investment program to meet growing demand for shipping and to replace less efficient vessels.

Results were posted in U.S. dollars.