A.P Group. Moeller-Maersk said revenue for the third quarter of 2021 hit a record high of $16.6 billion, up nearly sixfold from $9.9 billion in the same period last year.
A.P Group. Moeller-Maersk from Denmark, the world’s largest shipping company, has just announced record earnings. This result was achieved thanks to the strong increase in demand for freight worldwide in the context of many economies recovering from the pandemic and the high price of transportation services due to global supply chain problems. bridge.
Business thrives during the pandemic
A.P Group. Moeller-Maersk, based in Copenhagen, Denmark, said revenue for the third quarter of 2021 hit a record high of $16.6 billion, up nearly sixfold from $9.9 billion in the same period last year. The group reported third-quarter profit of $5.5 billion, up from $947 million in the same period last year.
Soren Skou, CEO of AP Moeller-Maersk said: “In the current market environment, with strong demand in the US and supply chain disruptions occurring on a global scale, the Group will continue to increase capacity and expand services to serve customers.”
The crane loads a shipping container branded A.P. Moller-Maersk boarded the cargo ship. Photo: Getty Images.
The need to move goods is becoming urgent amid soaring consumer demand for everything from cars to furniture, labor shortages as economies reopen, and now. congestion at seaports and transshipment points. Supply chain problems have caused a shortage of shipping containers and pushed up commodity prices.
A.P Group. Moeller-Maersk said its core business, shipping, is expected to grow at a slower rate than global container demand growth of 7-9% in 2021, but above the previous forecast of 6. – 8%.
Expanding air freight
In the announcement following the release of its financial statements, A.P. Moeller-Maersk revealed its intention to acquire German forwarding company Senator International to increase air cargo volume. In addition, to expand the airline network A.P. Moeller-Maersk said it is adding more aircraft to the service: three chartered cargo planes to be in service from 2022 and two Boeing planes to be deployed in 2024.
According to Reuters news agency, this is a move that shows Maersk is transforming from a “giant” of container shipping into a diversified logistics company.
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