Shipping giant A.P. Moller – Maersk has had a strong start to the year, with strong earnings and growth momentum across all our businesses in ocean, port services, and logistics.
High demand as well as significant operational challenges such as bottlenecks, lack of capacity, and equipment shortage in global supply chains drove freight rates up significantly.
The company saw an underlying EBITDA of USD $13.0-15.0bn, (£9.3bn), previously $8.5-10.5bn, compared to $8.3bn, (£5.8bn) in 2020.
Maersk’s Logistics & Services division continued to see a strong growth momentum and revenue increase of 42% in Q1 to $2bn, (£1.4bn), mainly driven by ‘organic growth’, alongside growth from the purchasing of Performance Team and KGH Customs Services.