Maersk reports containers up - tankers down
(Aug 20 2010)
Danish conglomerate AP Moller-Maersk reported a 20% increase in revenue for the
first half of this year.
This was primarily driven by higher freight rates and volumes for the group's
container shipping activities, as well as higher oil prices.
The profit for the period was $2.5 bill compared to a loss of $0.5 bill in the
same period of
2009.
"The first half of 2010 has been very satisfactory for the group, and we expect
a full year profit in excess of $4 bill. The container market has improved
beyond our expectations and our own efforts to improve competitiveness are
paying off. However, we still view the development in the global economy as
uncertain, and this may affect us from the last quarter of 2010," said CEO Nils
Andersen.
As for Maersk Tankers, rates increased during 1H10 but remained at a low level,
which affected the result negatively.
The division reported a negative result of $11 mill for 1H10, compared with a
positive $35 mill in 1H09.
Revenue for the first six months of this year was $579 mill, as against $622
mill recorded in 1H09, while EBITDA was $91 mill, compared with $98 mill in
1H09.
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