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Maersk shares in green: Maersk quintuples quarterly profit – Hamburg-based logistics company Senator International taken over

The world’s leading shipping company Maersk earned more money in the third quarter than ever in such a period thanks to continued very high demand.

The bottom line was that adjusted earnings for the months of July to September were around 5.45 billion US dollars (around 4.7 billion euros), according to the quarterly figures published by AP Møller-Mærsk on Tuesday. That was more than five times the profit of the same quarter of the previous year. The world’s largest shipping company from Copenhagen in Denmark increased sales by 68 percent to 16.6 billion dollars (14.3 billion euros).

Maersk spoke of record numbers for both a third quarter and a nine-month period. CEO Søren Skou justified this with the special situation in the freight business that had prevailed for some time. “In the persistently exceptional market situation with high demand in the USA and global interruptions in supply chains, we have further increased our capacities and expanded our range of services in order to keep freight for our customers in motion,” he was quoted as saying in a corporate statement. It also emerged from this that Maersk was taking over the German flight logistics company Senator International.

Maersk’s main business is ocean freight, and the Danes are the largest shipping company in the world. According to its own information, the company employs almost 80,000 people worldwide.

International shipping and the transport of goods have been heavily influenced by the corona pandemic as well as bottlenecks and interruptions in global supply chains. As a result, freight prices had risen significantly – in favor of Maersk and other shipping companies.

Maersk takes over Hamburg-based logistics company Senator International

With record profits behind them, the world’s leading container shipping company Maersk is taking over the Hamburg logistics company Senator International. The transaction will be valued at around 644 million US dollars (currently 556 million euros), Maersk announced in Copenhagen on Tuesday. The Hamburg-based company, which has been run by the Kirschbaum family until now, claims to have more than 1,700 employees at 64 locations around the world. With the takeover, the Danes primarily want to strengthen the air freight business and thus their logistics offerings from a single source. The traditional Hamburg shipping company Hamburg Süd, which will be 150 years old these days, also belongs to Maersk.

“Founded in 1984 by my father Uwe Kirschbaum, Senator has developed into a world-renowned freight forwarder,” emphasized Senator boss Tim-Oliver Kirschbaum in a press release. “We firmly believe that by joining Maersk we will be able to offer an even broader portfolio with our own controlled air capacity as well as other modes of transport.” The takeover still requires the relevant official approvals and should be completed in the first half of 2022.

Thanks to continued very high demand for transport services, Maersk made more money in the third quarter than ever before in such a period. The bottom line was that adjusted earnings for the months of July to September were around 5.45 billion US dollars, according to AP Møller-Mærsk’s quarterly figures also published on Tuesday. That was more than five times the profit of the same quarter of the previous year. The world’s largest shipping company from Copenhagen in Denmark increased sales by 68 percent to 16.6 billion dollars (14.3 billion euros).

Last week, the Hamburg-based Maersk competitor Hapag-Lloyd announced bubbly profits and increased the already very optimistic forecast for the year. The economic upturn in many regions of the world after the Corona recession is reflected in the global trade in goods – with a growing demand for the transport of goods by sea. Persistent disruptions in the supply chains, however, contribute to the fact that transport capacities are scarce. There are delays and containers are often not where they are needed. All of this is causing the prices for container transports – in industry jargon, freight rates – to rise sharply.

On the Danish stock exchange, the Maersk share temporarily gained 2.41 percent to 19.72 kroner on Tuesday after initial losses.

COPENHAGEN (dpa-AFX)

Reference-www.finanzen.at

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