A Poor Start to 2018, but We 'Sea' Progress for Shipping Giant Maersk
Shipping giant Maersk delivered an underwhelming first-quarter set of results, with below-market-level growth rates in its headline ocean business (74% of revenue) of just 2.2%, and cost increases of 12%, outpacing freight rate increases of just 7%. Despite management’s guidance to a full-year result above that for 2017, the first quarter culminated in a loss of USD 220 million from continuing operations. While this underlying result falls short of our expectations for this point in the year, we...A.P. Moeller Maersk is an international shipping company. Co.'s operating segments are: Container shipping and related activities which include global container services, inland transportation, manufacturing and repair of containers and container depots, and logistics and forwarding activities; APM terminals; Tankers, offshore and other shipping activities which include tanker shipping of crude oil, oil products and gas, offshore drilling activities and operation of land rigs, supply vessel activities with anchor handling and platform supply vessels, ferry services and door-to-door transportation in Northern Europe; Oil and gas activities; Retail activity; and Shipyards and other activities.
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