Maersk Line has announced that it made a profit of US$461m in 2012, compared with a loss of US$553m, a result positively affected by improved volumes, rates and unit costs.
Average freight rates were 1.9 per cent higher at US$2,881 per FFE and volumes increased by 5 per cent to 8.5m FFE.
The group announced and implemented significant general rate increases on most trades during the year-long period, backed by active capacity adjustments in the form of slow steaming, scrappings, idling and blanked sailings.
Total fleet capacity increased by 4 per cent to 2.6m TEU from 2.5m TEU, and the operation's cash flow from operating activities was US$1.8bn.
'We are satisfied with our result for the year,' said parent group AP Moller-Maersk's CEO Nils Andersen. 'After a difficult start, Maersk Line improved its performance and the Group achieved a result above last year’s, both in terms of net result and in underlying performance.'
AP Moller-Maersk turned in a profit of US$4bn, up from US$3.4bn, which was slightly higher than the company's most recent forecast of around US$3.7bn.
