Maersk Back in the Black

By Patrick Burnson, Executive Editor
August 20, 2013 - SCMR Editorial

A.P. Moller-Maersk upped its 2013 profit forecast late last week, mainly due to the performance of its ocean cargo division, citing lower fuel costs and effective cost cutting measures. 



Maersk Line, which controls 15 percent of the world’s container shipping capacity, made a second-quarter net profit of $439 million, compared with $227 million year over year, and significantly exceeding an average analyst forecast of $99 million. 


“We deliver a good operational result for the quarter thanks to improved performance in most of our businesses. Maersk Line has made strong and consistent progress and is now an industry leader in terms of profitability,” says Group CEO Nils S. Andersen.
“APM Terminals continues to deliver good results, and Maersk Drilling had its best quarter ever based on strong operational performance.

“Oil production was relatively low, but it has bottomed out now and will return to growth in the second half of the year.

“On Group level, we seek to further advance performance and growth by establishing a fifth core business unit with a target of $0.5 billion by 2016.”



About the Author

image
Patrick Burnson
Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).

Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

The tired cliché of “Perfect Storm,” is probably lost on East Coast shippers now weathering fierce winter winds and snow, but the expression still has currency on the Pacific Rim.

Owners of corporate fleets and fuel buyers face two dilemmas: a limited supply of cost-effective, low greenhouse-gas fuels, and little information on fuel sustainability impacts across the full production and use value chain.

U.S. Carloads were up 5 percent annually at 294,738, and intermodal at 253,317 containers and trailers was up 3 percent.

When it comes to Congress actually getting its act together on a new long-term federal transportation bill, things remain as status quo as it gets, with the big takeaway being nothing really ever gets done, when it comes to passing a badly overdue and needed bill, rather than these band-aid extensions Congress keeps signing off on.

Truckload and intermodal pricing was up on an annual basis, according to the December edition of the Truckload and Intermodal Cost Indexes from Cass Information Systems and Avondale Partners.

Article Topics

News · Global · Supply Chain · Management · All topics

About the Author

Patrick Burnson, Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review. Patrick covers international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. Contact Patrick Burnson

Comments

Post a comment
Commenting is not available in this channel entry.