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Last updated: 12 november, 2009 - 17:02 GMT
Shipping firm set for first annual loss
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The Danish shipping and oil group AP Moller-Maersk has reported a bigger than expected net loss for the first nine months of the year, and has warned that because of the global slump in trade - it will lose $1bn in 2009.
Shipping is the lifeblood of the global economy. But with the downturn, ships have been left high and dry as demand has tailed away.
As if that wasn't enough, the growing threat of piracy is spreading new fear throughout the industry. So who'd want to be running a container ship business right now?
Nils Andersen is chief executive of AP Moller-Maersk, which is the world's biggest shipping firm.
First broadcast on World Business News
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