By Christian Wienberg

(Bloomberg) — The world’s financial system is rising at a slower tempo than the International Monetary Fund and different massive forecasters are predicting.

That’s in keeping with Nils Smedegaard Andersen, chief government officer at A.P. Moeller-Maersk. His firm, proprietor of the world’s largest delivery line, is a bellwether for international commerce, dealing with about 15 p.c of all shopper items transported by sea.

“We believe that global growth is slowing down,” he stated in a cellphone interview. “Trade is currently significantly weaker than it normally would be under the growth forecasts we see.”

The IMF on Oct. 6 lowered its 2015 international gross home product forecast to three.1 p.c from 3.3 p.c beforehand, citing a slowdown in rising markets pushed by weak commodity costs. The Washington-based group additionally minimize its 2016 forecast to three.6 p.c from 3.8 p.c. But even the revised forecasts could also be too optimistic, in keeping with Andersen.

“We conduct a string of our own macro-economic forecasts and we see less growth — particularly in developing nations, but perhaps also in Europe — than other people expect in 2015,” Andersen stated. Also for 2016, “we’re a little bit more pessimistic than most forecasters.”

The Organization for Economic Cooperation and Development on Monday lowered its forecasts for the worldwide financial system for a second time in three months. GDP will develop 2.9 p.c in 2015 and three.3 p.c in 2016, down from the three p.c and three.6 p.c the group predicted in September.

Maersk’s container line on Friday reported a 61 p.c stoop in third-quarter revenue as demand for ships to move items the world over hardly grew from a yr earlier. The low development charges are proving notably painful for an trade that’s already scuffling with extra capability.

Trade from Asia to Europe has up to now suffered most as a weaker euro makes it harder for exporters like China to remain aggressive, Andersen stated. Still, there aren’t any indicators but that the worldwide financial system is heading for a stoop much like one which adopted the monetary disaster of 2008, he stated.

“We’re seeing some distortions amid this redistribution that’s taking place between commodity exporting countries and commodity importing countries,” he stated. “But this shouldn’t lead to an outright crisis. At this point in time, there are no grounds for seeing that happening.”

To bolster its oil enterprise, Maersk stated on Monday it should spend as much as $845 million on acquisitions in Kenya and Ethiopia to benefit from decrease costs which have hobbled components of the vitality trade.

©2015 Bloomberg News

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