AP Moller-Maersk’s plummeting profit is not stopping the company investing in new ships.

It is poised to order a series of methanol-fuelled neo-panamax newbuildings that will cost at least $1.38bn.

Shipbuilding players said Maersk has signed a letter of intent with China’s Yangzijiang Shipbuilding for eight firm 8,000-teu container ships, with four options.