Danish shipping and oil group A.P. Moller-Maersk will cut capital expenditure considerably next year, Chief Executive Nils Smedegaard Andersen told a conference call on Thursday.
"The capex level for 2010 will be significantly lower than 2009," he said, adding that capital expenditure was coming down already in the fourth quarter of 2009.
"The capex level for 2010 will be significantly lower than 2009," he said, adding that capital expenditure was coming down already in the fourth quarter of 2009.