Maersk to cut 2010 capex significantly -CEO

COPENHAGEN, Nov 12 (Reuters) - Danish shipping and oil group A.P. Moller-Maersk (MAERSKb.CO) will cut capital expenditure considerably next year, Chief Executive Nils Smedegaard Andersen told a conference call on Thursday.

"The capex level for 2010 will be significantly lower than 2009," he said, adding that capital expenditure was coming down already in the fourth quarter of 2009.

For more on Maersk's third-quarter results reported earlier on Thursday, see [ID:nLB221630] (Editing by Jon Loades-Carter)