Maersk Line beats expectations in 3rd quarter 2013
Maersk Line the Danish container shipping company expects annual result 2013 to more than double on 2012
In spite of the difficult economic conditions the Danish shipping company Maersk Line has gained volume throughout 2013. Based on the strong result for the first nine months of USD 1.2 billion, the company specifies their result for 2013 to be significantly above 2012 (USD 461 million).
Maersk Line made a profit of USD 554m and a ROIC of 10.9 per cent for Q3 2013. The improvement was achieved through lower costs. Maersk Line increased volumes by 10.6 per cent. With increased volumes and an average deployed fleet capacity decrease of 0.8 per cent, the vessel utilisation improved and resulted in 13 per cent lower unit costs. Freight rates were 12.2 per cent lower. Cash flow from operating activities was USD 1.3bn (USD 1.1bn). Whereas Q3 2013 had satisfactory returns, freight rates deteriorated significantly during the quarter and hence the seasonally low Q4 2013 has started with low freight rates which will result in a significantly lower fourth quarter result than third quarter.
www.maerskline.com
Quelle: LogEastics
Portal: www.logistik-express.com