Danish shipping and oil group A.P. Moller-Maersk said it did not need a capital increase after a media report said it had been pressured by the financial crisis and may need to tap the market for cash. "The group is well capitalised with a strong equity ratio, has adequate financial means and does not need a capital increase," Maersk Chief Executive Nils Smedegaard Andersen said in a statement on Monday.
Shares in the Danish group -- which owns the world's largest container shipping line -- had been down as much as 3 percent in a rising market after the report in Danish magazine Economic Weekly that it may need a capital injection.
However, analysts said that although the company may want to increase liquidity in the coming years, it had a number of ways of doing so besides issuing new shares.
These could include reducing investments, selling its treasury shares and reducing investment expenditure in 2010.
By 1100 GMT, Maersk shares were down 0.8 percent at 23,800 crowns, underperforming the Copenhagen bourse's top-20 OMX index , which was 1.1 percent up.
SEB Enskilda analyst Steven Brooker said an estimated 60 to 70 percent of Maersk's total debt matured after 2013 and that large parts -- related to ship financing -- would have no loan-to-value covenants attached.
"The company has a solid balance sheet and will remain buoyant for years without needing capital. There is a long way to go and the crisis needs to be more severe than what we have seen so far before they will need cash," Brooker said.
Shares in the Danish group -- which owns the world's largest container shipping line -- had been down as much as 3 percent in a rising market after the report in Danish magazine Economic Weekly that it may need a capital injection.
However, analysts said that although the company may want to increase liquidity in the coming years, it had a number of ways of doing so besides issuing new shares.
These could include reducing investments, selling its treasury shares and reducing investment expenditure in 2010.
By 1100 GMT, Maersk shares were down 0.8 percent at 23,800 crowns, underperforming the Copenhagen bourse's top-20 OMX index , which was 1.1 percent up.
SEB Enskilda analyst Steven Brooker said an estimated 60 to 70 percent of Maersk's total debt matured after 2013 and that large parts -- related to ship financing -- would have no loan-to-value covenants attached.
"The company has a solid balance sheet and will remain buoyant for years without needing capital. There is a long way to go and the crisis needs to be more severe than what we have seen so far before they will need cash," Brooker said.