ID 61185855
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| Dreamstime.com
Container shipping lines have learned how to manage capacity, print billions, and pay single-digit tax rates — all under a regime designed to protect a fragmented, loss-making industry that has changed profoundly. Maersk’s Q3 interims released last week are the latest exhibit for the prosecution.
Here is a number that deserves to be read twice.
In the third quarter of 2026, AP Moller-Maersk booked profit before tax of about $3.2bn. Against that, it recorded income tax of just …