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maersk line container shipping

Maersk Q2 2017 Performance Was Mainly Driven By Maersk Line

August 28, 2017 12:05 am Published by

A.P. Moller-Maersk's performance in Q2 was mainly driven by a profitable Maersk Line. This can be attributed to continued recovery in the container market, as well as the company's focus on a return to profitability.

Maersk Line is again profitable delivering in line with guidance, with revenue growing by USD 1 billion year-on-year in the second quarter. The profit was USD 490 million higher than the same quarter last year (2016), based on higher rates.- CEO of A.P. Moller-Maersk

Maersk's Transport & Logistics division reported a consolidated revenue of USD 7.7 billion, which was an increase of 15 percent compared to same quarter last year, and an underlying profit of USD 442 million. This is a significant improvement, in large part driven by higher container freight rates.

According to officials, the company's announced acquisition of Hamburg Süd is progressing as planned. The transaction remains subject to regulatory approval, and is expected to be completed in Q4 2017.

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