08-10 October 2024
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Maersk: rates starting to normalise

Shipping group Maersk delivered strong results for Q3 2022. Revenue compared to the same period last year increased by around 37 percent to USD22.8 billion, while EBITDA and EBIT both rose by approximately 60 percent to USD10.9 billion and USD9.5 billion, respectively.

The carrier issued its full year guidance for 2022. It estimates underlying EBITDA of around USD 37 billion, and an underlying EBIT of around USD31.0 billion.

”Our third quarter result was another record and the 16th quarter in a row with year-on-year earnings growth,” said Søren Skou ceo. “Ocean freight rates, which have driven the exceptional results we have delivered in 2022, were again up both year-on-year and compared to the second quarter. However, it is clear that freight rates have peaked and started to normalise during the quarter, driven by both decreasing demand and easing of supply chain congestion.

“As anticipated all year, earnings in ocean will come down in the coming periods. Our overall transformation momentum remained very strong as we continue to grow our logistics business rapidly. For the first time, revenue in logistics exceeded USD4 billion in one quarter, and we expect to continue to outgrow the market in logistics based on new customer wins.”

See more here.

Source: heavyliftpfi.com

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