Fortress SITC – liner shipping's insulated star performer
Is it a bird? Is it a plane? Nope, it’s a ship
ID 88854472 © Antonio1962 | Dreamstime.com
By Mike Wackett
Danish shipping and logistics group Maersk reported a net profit of $1.3bn for fourth quarter of 2020, with an even better result expected for Q1 21.
“We are full,” said CEO Soren Skou today, adding that Maersk’s liner sector is expected to remain full “well into Q2”.
Record final-quarter earnings helped Maersk achieve a profit of $2.9bn for the full year, a result that looked highly unlikely at the start of the pandemic.
On the top line, revenue improved by 2.2%, to $39.7bn, but ebitda ...
Comment on this article