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COPENHAGEN: November 14, 2018. The A P Møller – Mærsk Group (Maersk) has reported a 31 percent increase in Q3 revenue to US$ 10.1 billion, or 12 percent excluding Hamburg Süd, compared to the same quarter last year.

Net profit for the period was US$360 million, compared to a loss of US$1.5 billion in Q3 2017. Net interest-bearing debt totaled US$12.4 billion, a drop of US$1.9 billion in the past three months. EBITDA for the full year is expected to be US$3.6 - 4.0 billion.

maersk tugboatMaersk said the integration of Hamburg Süd was progressing faster than planned with cost savings of US$150 million in Q3 and US$290 million for the first nine months of 2018.

The average Ocean freight rate rose 5.5 percent than in the same period last year and up 4.8 percent since the second quarter of this year, partly driven by emergency bunker surcharges.

Revenue from the group’s Logistics & Services division rose 7.5 percent in Q3 with supply chain management reporting 10 percent growth in volume and 16 percent growth in revenue.

"Well into our transformation, we are progressing with the integration of our business to better serve customers and unlock the full growth potential within Logistics & Services,” declared CEO Søren Skou. “As a result, I am pleased to see revenue growth in Q3 across the business, including supply chain services.

“Our profitability and cash flow is improving, positively impacted by the emergency bunker surcharge announced due to the significant increase in bunker price, synergies from Hamburg Süd and strong collaboration between Ocean and our terminal activities,” he added.

Maersk says the Trump-imposed trade restrictions between the US and China amount to 2.6 percent of the global value of traded goods and estimates that the combined effect of all trade restrictions introduced during 2018 could reduce global container trade by 0.5-2.0 percent in 2019-2020.

Pictured: Svitzer tugboat outside Maersk headquarters in Copenhagen, Denmark.


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