Logistics giant Maersk has reported a significant recovery from last year's nine-month loss of $700m.
A.P. Møller-Maersk, the parent group of leading shipper Maersk Line, has revealed a major year-on-year improvement in its net result for the first nine months of 2010, up to $4.2bn from a loss of $700m last year.
Revenue for the period climbed 17 per cent to hit $41.4bn, Maersk announced, with growth attributed to higher freight rates in the group's container shipping activities and higher oil prices.
The container shipping segment yielded a profit of $2.2bn through the first nine months, contrasting with a loss of $1.6bn in 2009, positively impacted by an increase in average freight rates of 34 per cent and growth in transported volumes of seven per cent.
APM Terminals' segment result came to $668m, up from a profit of $340m last year, with the number of containers handled rising by three per cent year-on-year.
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