Maersk Line sailed on a profitable course in 2012

Higher rates and increasing volumes resulted in profit for Maersk Line in the year 2012
 
The Danish Maersk Line returned to the profit zone in 2012. The world’s biggest container shipping line made a profit of USD 461 million (loss of USD 553m) and a ROIC of 2.4 percent (negative 3.1%). The result was positively affected by improved volumes, rates and unit costs. The average freight rates were 1.9 percent higher at 2,881 USD/FFE (2,828 USD/FFE) and volumes increased by 5 percent to 8.5m FFE (8.1m FFE). Bunker consumption per FFE was reduced by 11 percent and headquarters headcount was reduced significantly.
 
Maersk Line announced and implemented significant general rate increases on most trades backed by active capacity adjustments in the form of slow steaming, scrappings, idling and blanked sailings. The total fleet capacity increased by 4 percent to 2.6m TEU (2.5m TEU). The capacity growth in owned fleet was partly offset by redelivery of time charter vessels. Maersk Line maintained its market share for the full year. Cash flow from operating activities was USD 1.8bn (USD 899m) and cash flow used for capital expenditure was USD 3.6bn (USD 3.2bn).
 
The Group delivered a profit of USD 4 billion (USD 3.4bn), which was slightly higher than the latest announced outlook of around USD 3.7 billion expressed on 9 November 2012. The return on invested capital (ROIC) was 8.8 percent (8.3%). Profit was positively affected by the settlement of an Algerian tax dispute in Q1 of USD 899m combined with improved volumes, rates and unit costs for Maersk Line.
 
APM Terminals made a profit of USD 723 million (USD 648m) and ROIC was 13.6 percent (13.1%). The result was positively affected by pre-tax divestment gains of USD 123 million (USD 28m). Number of containers handled increased by 6 percent to 35.4 million TEU (33.5m TEU), ahead of the market growth of 4 percent, boosted by additions to the portfolio.

Quelle: LogEastics

Portal: www.logistik-express.com