The Danish container carrier A. P. Møller-Maersk has more than doubled its profits in the second quarter, despite the fact that the company has transported fewer goods. Under the line, almost EUR 360 million remained in surplus thanks to lower fuel prices, higher freight rates and cost savings.
The demand for goods has been hit hard in many countries by the COVID crisis. This has a direct impact on the quantity of goods traded and transported worldwide. However, the fall was less than expected by Maersk in May. The container carrier withdrew its own financial expectations for the whole year as early as March. Turnover declined by 6.5 percent in the second quarter on an annual basis.
The closed borders, quarantine and travel restrictions also make it difficult for the company to get seafarers at home whose contract has expired.
‘It is a persistent issue that is of grave concern to us and we will continue to look for a solution’, says CEO Søren Skou.
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