AP Møller-Maersk, the world’s biggest container shipping line, saw an accelerating fall in volumes on its most important route in the third quarter, in the latest sign that the industry faces one of the most severe downturns in its 50-year history.

The container shipping business of the Danish company, which mostly trades under the name Maersk Line and is nearly twice the size of its biggest competitor, saw volumes fall 3 per cent year-on-year in the key Asia-Europe trade, it said on Wednesday.