Maersk ‘on the attack’

In the first nine months of the year, the Danish AP Moller Group had a 17% turnover rise over the same period last year – earning US$41.4-billion (equivalent of R285.25-bn). This, said the interim report, was primarily as a result of higher freight rates for the group’s container shipping activities and higher oil prices. It resulted in a net profit of US$ 4.2-bn (R28.94- bn) compared to its loss of US$0.7-b (R4.82-bn) in the first three-quarters of 2009. “The result is exceptional,” said group CEO Nils S. Andersen. Especially the group’s container business which, he added, was ahead of competition on profitability. “We have moved from defence to the attacking zone,” Andersen said, “and we are ready to take more territory – especially in emerging markets.”