Maersk Line returns to black
MAERSK Line has managed the turnaround back into profitability. Container shipping and related activities, including APM Terminals, reported profits of $217m for 2007, following a loss of $568m in 2006.
Turnover of the division reached $26.7bn, up from $25.3bn. "Maersk Line"s results are in isolation of course not satisfactory," said AP Moller-Maersk chief executive Nils Andersen.
"However, it is worth noting that the earnings of the container business have improved significantly compared to 2006, and the expected positive result for the container business has been achieved." With regard to the current year, Mr Andersen said the outlook was "highly uncertain".
Maersk Line carried 12.4m teu last year, up just 1%. As capacity on the Transpacific was cut, the latter"s market share in the line"s total transport volume decreased clearly, to the advantage of Asia-Europe trades.
Source: Katrin Berkenkopf - Lloyd's List