AP Moller Maersk has announced a 2009 net loss of US$1.31 billion, after a $3.33 billion profit the previous year, amid a collapse in global trade, the Wall Street Journal reported.

It is the first full-year result in the red for the storied family-controlled firm founded in 1904.

"The loss is significant," said group chief executive Nils Andersen. "But 2009 was an extraordinary year with historically low rates and low demand."

The outlook for 2010 is only a bit better. Maersk said it expected to turn "a modest profit." Analysts have forecast a profit for 2010 of more than $1 billion.