SHIPPING | Maersk recovers with record $5bn full-year profit

Denmark’s AP Møller-Maersk, operator of the world’s largest container ship fleet, on Wednesday announced record $5bn net profits for 2010 – a year after announcing the only full-year loss in its 107-year history.

However, the shipping and oil conglomerate warned that 2011 results were likely to be worse than those for 2010, as the growth of the world container ship fleet outpaced demand and the company’s oil and gas production declined.

Read more at http://www.ft.com/cms/s/0/b55a8efa-3f27-11e0-8e48-00144feabdc0.html#ixzz1Eo2fyMqC

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