Nova Nordisk has become bigger than shipping company A.P. Møller-Mærsk. While the Novo Nordisk group has experienced huge growth, Mærsk has had problems in the company’s container business and is barely maintaining levels from the year before.
The Copenhagen Post reports that “Throughout this year, Novo grew to a whopping DKK 248 billion enterprise and increased its market value by 40 per cent. A whole five billion more than A.P. Møller-Mærsk’s DKK 243 billion.”
The credit crisis in the United States and a problematic world economy have played a major role in Mærsk’s poor results for 2007.
The weakened US dollar and the expanding and highly competitive shipping industry also had repercussions on the hard-pressed shipping company.