News / Radical revamp sees Damco back in the black after two years in the doldrums

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After racking up more than $400m of losses in the past two years, Maersk’s freight forwarding arm, Damco, returned to the black in the second quarter this year – and is “on track” to “deliver a small profit”.

Then, at the end of the year, the group will review the long-term strategy for the company.

Presenting at the Maersk Group Capital Markets day in Copenhagen last week, APM Shipping Services chief executive Morten Engelstoft said the troubled 3PL had, under the direction ...