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Shipping: Maersk six-folds third-quarter net profit to $ 5.4 billion

2021-11-02T08:32:56.920Z


Danish shipping giant AP Moeller-Maersk posted exceptional third quarter results. The world's number one ...


Danish shipping giant AP Moeller-Maersk posted exceptional third quarter results.

The world's number one shipping company posted a net profit of $ 5.438 billion for the June-September period.

Its turnover jumped 67% to 16.612 billion.

These results exceed analysts' expectations.

The consensus predicted a turnover of between 16.075 billion dollars (Bloomberg) and 16.335 billion (Factset) and a net profit oscillating between 5.238 billion (Factset) and 5.375 billion (Bloomberg).

Read alsoSea transport turned upside down because of the boom in demand

The group is benefiting from record container freight prices, twenty months after the start of the coronavirus pandemic. “

In an exceptional market situation, characterized by strong demand in the United States and disruptions in supply chains globally, we continued to increase our capacities and expand our offers,

” said the director. General of the group, Søren Skou, in his financial report.

Founded in 1904, Maersk undertook a major restructuring aimed at refocusing on transport and logistics, after the sale in 2017 of its petroleum division to TotalEnergies.

Anxious to diversify its logistics offer, the shipowner also made public the acquisition of the air freight company Senator International to "

add even more flexibility to supply chains

," said Mr. Skou.

Source: lefigaro

All business articles on 2021-11-02

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