The Danish shipping giant, Maersk, published the annual results of the group, which showed a fall in profits of 33%. Revenue rose 7% to $60,230 million due to oil prices and volumes of containers.
“We deliver an acceptable result for the year 2011, taking into account how the freight rates developed during the year. Markets are volatile, but our businesses are fundamentally strong and competitive. Our products and services are in high demand and most of our core businesses achieved good results. 2012 will be another difficult year and we will continue to focus on profitability and investment allocation and terminal growth in the oil business,” said group finance director, Trond Westlie.
As for companies doing shipping business in the Strait of Gibraltar and the Bay of Algeciras port, Maersk Line lost $6,000 million due to low rates on routes between Asia and Europe. By contrast, the number of containers transported by the carrier rose 11% to 8.1 million containers measured in units of 40 feet and the group managed to regain market share lost during 2010.
APM Terminals, on the other hand, gained last year $649 million in profit and the movement of containers in their operations increased by 8%.