In the first quarter, Maersk more than doubled its earnings thanks to freight rates remaining high not only on the spot market but also in long-term contracts.
The group’s revenues reached an all-time high at $19.3 billion; a +55.1% increase compared to the same period in 2020. Its EBITDA and EBIT stood at $9.1 billion (+124.9%) and $7.3 billion (+134.8%), respectively, while its net income was $6.8 billion (+150.6%).
In the ocean sector alone, the Danish company posted record revenues of $15.6 billion (+64.3%), with $13.6 billion generated directly from ocean freight operations (+65.3%) and $2.0 billion from other activities including terminal operations (+57.5%).
The fleet’s containerized cargo volumes were down -6.7% to 3 million 40-foot boxes compared to the first quarter of 2021. On the other hand, the average freight rate increased 71% to $4,553 during the same period.
Translation by Giles Foster
