Container shipping line Maersk's bottom line is back in the
black for the year to date, and the group is forecasting an
increased profit to $US3.7 billion ($NZ4.53 billion) for its
Maersk Group has just released its third quarter to September
result, with division Maersk Shipping's profit for the
quarter turning around from a $US289 million loss a year ago,
to $US498 million profit.
Group chief executive Nils Andersen said in a statement there
was an average 5.7% increase to $US3022 per 40-foot
container, while average unit costs decreased by 6% from fuel
In August in New Zealand, Maersk hiked the dry container
rates by 25%-30%, while last month similarly hiked 40-foot
refrigerated container rates by $US1500, beginning on January
In both instances, Maersk said the rate increases had
followed 25%-30% rate declines in an oversupplied market,
during the previous three to four years.
Maersk is the country's largest shipping line customer,
including Port Otago's, and moves about 170,000 40-foot
containers in and out of the country annually.
Other savings by Maersk have been made in slowing ships, to
save fuel, dropping visits to smaller regional ports, and
increased slot-sharing with other container lines.
Mr Anderson said the quarterly result was "good", given the
challenging economic environment, with the overall group
profit up from $US371 million a year ago to $US933 million,
albeit with a negative $US267 million vessels' impairment
"Thanks to our rate initiatives and cost reductions, Maersk
Line is back in black figures for year to date, and the high
oil price supports a satisfactory result for [division]
Maersk Oil," he said.
The AP Moller-Maersk Group consists of Maersk Line, Maersk
Oil, APM Terminals and Maersk Drilling.