Container shipping giant Maersk Group has delivered its best results ever – US$5bn profit – thanks to a rebound in the global economy and increased competitiveness.
Maersk highlighted increased container rates and volumes, reduced costs per unit and higher oil prices as the main factors in its 2010 annual results.
Container activities recorded profits of US$2.6bn, a dramatic improvement on 2009 and up from US$205m in 2008, when conditions were comparable to 2010.
Maersk says this year it intends to win back market share it lost in 2010, but “not through rate dumping”.
