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Container shipping company Maersk is making more profit than ever

2023-02-08T14:20:16.745Z


The world's largest container shipping company, Maersk, made a profit of almost $30 billion in 2022 - an increase of more than 60 percent. But it shouldn't go on like this.


Enlarge image

Maersk container in Wilhelmshaven: Profit increased tenfold compared to 2020

Photo: Ingo Wagner / dpa

The demand is huge, as are the freight prices: The Danish shipping company Maersk posted record results in 2022.

The bottom line is that the Copenhagen group made a profit of 29.3 billion dollars, as can be seen from the company's annual figures that have now been published.

The total corresponds to an increase of more than 60 percent compared to the record year 2021 - and about ten times the profit of 2020. Sales increased by almost a third to 81.5 billion dollars.

It is the best financial result in the company's history, said the new Maersk boss Vincent Clerc.

And not only that: According to the Ritzau news agency, no Danish company has ever raked in a higher annual profit than Maersk 2022.

Growth expected in logistics and terminals

Maersk and its main rival MSC are by far the largest container shipping companies in the world.

Your industry has been experiencing exceptional market conditions and global supply chain disruptions for some time.

Scarce capacities in the wake of the corona pandemic have caused freight rates, the prices for sea transport, to rise enormously.

At the same time, the Danes have long been developing into a more complex logistics company.

This process was accelerated last year, Maersk reported.

While the slowdown in the global economy will lead to a weaker market, especially on the oceans, the company will continue to strive for growth in the logistics and terminals business areas.

For 2023, according to Maersk, however, there is a risk of a collapse in container volumes and freight rates.

The profit could therefore decrease.

High inflation and inventory build-ups, among other things, are now reducing demand for goods — and would return global trade to pre-pandemic levels, Maersk predicts.

Economic and trade growth would be “probably weak”.

Given the challenging outlook and new levels of uncertainty, Clerc said Maersk wants to further accelerate business transformation.

Apr/dpa/AP

Source: spiegel

All business articles on 2023-02-08

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