A.P. Moller-Maersk A/S (AMKBY) , the world's largest container line, said that it can't get its shipments into or out of Qatar following a blockade that was initiated by its neighbors and Saudi Arabia who say the country actively funds terrorism.
"We have confirmation that we will not be able to move cargo to or from Qatar," the company said in an emailed statement.
Maersk ships about 16% of the world's seaborne cargo.
Saudi Arabia, Egypt, the United Arab Emirates and Bahrain all accused the country this week of using proxies to fund violent terror groups in the region. \
Shares of A.P. Moller-Maersk are lower in late afternoon trading.
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