Maersk Reports Third-Best Financial Year

A.P. Moller-Maersk reported a strong 2024 financial performance, driven by growth across all segments. EBIT reached US$6.5 billion, a 65% increase compared to US$3.9 billion in the previous year. Revenue also saw a significant jump to US$55.5 billion from US$51 billion. This success was fueled by increased demand and higher freight rates in global trade, particularly within ocean shipping. Maersk's terminals experienced top-line and volume growth, while logistics and services saw improvements. CEO Vincent Clerc highlighted the company's ability to maintain steady supply chains for customers amidst geopolitical changes and disruptions. He emphasized Maersk's unique position to support customers with its integrated ocean, logistics, and terminals businesses, ensuring resilient supply chains in a volatile global market. Strong volume demand and increased freight rates, especially in the Red Sea, contributed to improved ocean profitability. Operational costs remained stable despite rerouting challenges.