English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Maersk reports 30 percent rise in Q1 net profit

COPENHAGEN: A.P. Møller – Mærsk has reported a pre-tax profit of US$1.75 billion for the first quarter of 2015, a drop of 16 percent over the same period last year.

Net profit rose 30 percent to US$1.57 billion – helped by a net gain of US$223 million from the sale of shares in Danske Bank.

Q1 gross revenue fell 10 percent to US$10.54 billion largely due to lower oil prices, while operating expenses dropped US$744m as a result of reduced bunker prices.

Group CEO Nils Andersen said Maersk Line, Maersk Drilling and APM Shipping Services drove an 18 percent increase in underlying profit of US$1.3 billion for the quarter. "The group now expects an underlying result of around US$4 billion for 2015," he added.

press-munkebo-maersk-in-algecirasMaersk Line reported a profit of US$714 million - up from US$454 million last year – following the completion of its 193-vessel sharing agreement with Mediterranean Shipping Company on the East-West network. The company expects to improve its 2014 underlying profit of US$2.2 billion this year as global container volumes rise 3-5 percent in 2015.

By the end of Q1, the Maersk Line fleet consisted of 273 owned vessels with a total capacity of 1.7 million TEU and a further 335 chartered vessels for a total capacity of 2.9m TEU. Five Triple­E vessels are due for delivery in Q2 2015. The company says it expects to place additional orders this year.

Damco, part of APM Shipping Services, made a loss of US$9m for the quarter, an improvement of $1 million over Q1 2014. Revenue was US$683 million, down 9.0 percent year on year, most of which was due to adverse exchange rates.

Supply chain management volumes rose 6.0 percent while ocean freight fell 2.0 and airfreight volumes fell 19 percent – mainly due to a drop in project air cargo last year that was not repeated in 2015. The company says restoring growth in ocean and airfreight segments "is a key focus area to improve overall Damco profitability" as margins in all three segments remained under pressure for the quarter.

News

Written on 18/01/2018, 20:29
extreme-weather-greatest-economic-risk LONDON: January 17, 2018. The latest Global Risks Report from the World Economic Forum (WEF) says extreme weather events are seen as the greatest...
Written on 18/01/2018, 15:17
amazon-shortlists-20-u-s-cities-for-second-headquartersSEATTLE: January 18, 2018. Amazon has chosen 19 U.S. cities plus Toronto, Canada from 238 locations across the U.S., Canada, and Mexico as possible sites...
Written on 17/01/2018, 21:42
seat-builds-spain-s-tallest-logistics-warehouseBARCELONA: January 15, 2018. Car manufacturer SEAT (Sociedad Española de Automóviles de Turismo) is constructing a new automated logistics center to store...
Written on 17/01/2018, 17:44
maersk-and-ibm-form-blockchain-companyCOPENHAGEN/ARMONK, NY: January 16, 2018: A.P. Møller - Mærsk and IBM are to establish a joint venture to leverage blockchain technology for global...
Written on 16/01/2018, 21:36
uk-roro-freight-depends-on-future-eu-accessLONDON: January 16, 2018. The UK short-sea ferry industry is spending over £1 billion on new ships, port and service facilities in the next four years,...
Written on 13/01/2018, 20:38
germany-to-allow-longer-trainsBERLIN: January 09, 2018. German railway operators have welcomed a decision by the federal government to allow more 740-meter trains to operate. Currently...
Written on 13/01/2018, 18:53
boeing-launches-electric-cargo-droneCHICAGO, January 10, 2018. Boeing is developing a 500lbs–payload electric vertical-takeoff-and-landing (eVTOL) drone for future cargo and logistics...
Written on 13/01/2018, 18:49
amazon-expands-at-cincinnati-hubSEATTLE: January 12, 2017. Dave Clark, senior vice president Operations for Amazon Prime Air, says the company has just added 210 acres to its future air...
Written on 10/01/2018, 22:50
disasters-cost-the-u-s-economy-us-306-billion-in-2017DENVER: January 09, 2018. According to the National Oceanic and Atmospheric Administration floods, tornadoes, hurricanes, drought, fires and freezes...
Written on 07/01/2018, 21:45
arizona-plans-bridge-not-wall-with-mexicoPHOENIX, AZ: January 06, 2018: As Donald Trump seeks US$18 billion from the U.S. Congress to build his border wall with Mexico, Arizona's Republican...
Written on 03/01/2018, 20:48
new-rail-line-delivers-first-containers-to-nairobi-from-mombasaNAIROBI: January 01, 2018. The new standard gauge rail (SGR) link between Nairobi and Mombasa saw the start of its first commercial freight service with...
Written on 03/01/2018, 16:57
eurozone-dominates-pmi-manufacturing-index-growthLONDON: January 03, 2018. According to the final IHS Markit Purchasing Managers' Index (PMI) for 2017, eurozone manufacturing reached 60.6 in December,...
Written on 18/12/2017, 23:19
dhl-underwrites-good-shipping-optionBONN: December 18, 2017. DHL Global Forwarding has signed an exclusive MoU with the Good Shipping Program. The company wants to decarbonize the ocean...
Written on 13/12/2017, 22:14
corruption-pervasive-in-trump-white-houseBERLIN: December 13, 2017. A new survey by ethics watchdog Transparency International says 44 percent of Americans now believe that corruption is...
Written on 13/12/2017, 22:07
banks-to-test-blockchain-for-sustainable-supply-chainsLONDON: December 13, 2017. The University of Cambridge Institute for Sustainability Leadership (CISL), supported by Barclays, BNP Paribas, Sainsbury's,...
Written on 13/12/2017, 21:38
shipt-a-target-for-us-550-millionMINNEAPOLIS: December 13, 2017. American bricks-and-mortar retailer Target Corp. is to purchase Shipt, an online same-day domestic delivery platform, for...
Written on 11/12/2017, 18:20
deutsche-bahn-subsidiary-regrets-rastatt-rail-closureDUSSELDORF: December 11, 2017. Speaking at meeting of rail operators last week, DB Netz CEO Frank Sennhenn expressed regret for his company's involvement...
Written on 10/12/2017, 22:44
rolls-royce-to-test-remote-controlled-shippingPARIS: December 06, 2017. The European Space Agency (ESA) and Rolls-Royce have signed an MoU to investigate how space technology can be used to develop...
Written on 08/12/2017, 20:10
beijing-continues-to-cut-carbonNAIROBI: December 06, 2017. According to an Assessment Report on Beijing Capital Airport, released during the third UN Environment Assembly in Nairobi...
Written on 07/12/2017, 20:53
bollore-begins-rail-renovation-between-cote-d-ivoire-and-burkina-fasoABIDJAN, Côte d'Ivoire: December 04, 2017. SITARAIL, a Bolloré Transport & Logistics subsidiary, has begun upgrading the rail link between Abidjan and...

- powered by Quickchilli.com -