News / Maersk Line stays in profit, despite cyber attack, but APMT and Damco feel the heat

© Mohamed El Khamisy

Maersk Line reported a net profit of $220m in the third quarter, compared with a loss of $122m in Q3 16, but there were negative results for sister companies APM Terminals and Damco as competition intensified and margins became squeezed.

Turnover at Maersk Line increased year-on-year by 14% to $6.1bn, boosted by a 14% hike in its average freight rate to $2,063 per feu.

The star performers were the carrier’s Asia-Europe and transpacific east-west trades, where average rates jumped almost 20% to $2,186 per feu.

The result ...