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A.P. Moeller-Maersk cut its profit forecast for 2015, citing a weaker container shipping market as the outlook for global growth becomes gloomier.

A.P. Moeller-Maersk A/S, owner of the world’s largest container line, said profit exceeded estimates despite a slump in freight rates.

Maersk Line, the world’s largest container shipper, reported a 57% jump in first-quarter net operating profit after tax to $714 million, missing the $783 million estimate in a survey conducted by SME Direkt.

A.P. Moeller-Maersk A/S, operator of the world’s biggest container line, said third-quarter profit increased as it cut costs and boosted box volumes.

The Federal Maritime Commission has cleared the planned vessel alliance of Maersk Line and Mediterranean Shipping Co., the two largest ocean carriers.

A.P. Moeller-Maersk A/S raised its full-year profit forecast after the company’s container-shipping line, the world’s largest, said earnings are rising because of higher freight volumes and lower costs.

A.P. Moeller-Maersk plans to sell its stake in a supermarket and department store to focus on transport and energy, Bloomberg News reported.

Maersk Line reported that its third-quarter profit rose from a year ago, and its parent company A.P. Moller-Maersk raised its full-year forecast, Bloomberg News reported.

A.P. Moller-Maersk reported a first-quarter profit compared with a loss a year ago, but revised its global container forecast downward, Bloomberg News reported.