Maersk reports record profit amid high freight rates
May 5, 2021,
by
Naida Hakirevic
Danish shipping and logistics giant A.P. Moller – Maersk delivered an exceptionally strong performance in Q1 2021 with a record profit for the quarter.
Overall in Q1, EBITDA increased to $4 billion from $1.5 billion year on year and EBIT to $3.1 billion from $552 million compared to same quarter last year, while revenue improved by 30 percent to $12.4 billion.
The company benefitted from strong demand in a market still influenced by the pandemic and significant disruptions in global supply chains.
According to the company, the results reflect the high volumes, which are up 5.7 percent, significant increases in freight rates of 35 percent and lower bunker fuel prices.