Business News

Shipping focus for new CEO of Danish group Moller-Maersk

Nov 5, 2007, 12:24 GMT

Copenhagen - The new chief executive of Danish shipping and oil giant AP Moller-Maersk Group assumed his duties Monday, saying he aimed to focus on improving the group's container shipping operations. 'I am looking forward to running Denmark's largest concern. The main task for AP Moller is to turn around the container business. It is the group's main area,' Nils Smedegaard Andersen told reporters at a brief meeting. Andersen, 49, was recruited from Danish brewery group Carlsberg earlier this year. Maersk Line has been in the red for some time and lost market shares. 'There will be a series of measures that will improve Maersk Line results,' Andersen later told Denmark's Ritzau news agency and financial wire RB Borsen, noting: 'Maersk Line is the world's largest container company that has a strong brand and a good organization.' Costs related to the 2005 takeover and merger of P&O Nedlloyd were a factor mentioned for Maersk Line's poor bottom line. In August, the Moller Maersk group said that its container business had improved on 2006, but posted a net loss of 168 million dollars. Other group activities include tankers, coasters, offshore, oil and gas activities, retail activity and shipyards. © 2007 dpa - Deutsche Presse-Agentur

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Shipping focus for new CEO of Danish group Moller-Maersk

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