It expects underlying earnings before interest, tax, depreciation and amortization (EBITDA) at around $24 billion this year, similar to last year, but slightly below the $24.4 billion expected by analysts in a poll gathered by the company.

Its shares were down around 2% in early trading and have fallen 11% since reaching an all-time high in mid-January.

While Maersk’s customers faced “severe challenges”, the record-high rates caused by pandemic-related congestion at ports, container shortages, and a surge in consumer demand led to “record-high growth and profitability in Maersk,” Chief Executive Soren Skou said in a statement.

He said the current market situation was expected to persist into the second quarter before easing later in the year.

Maersk, which handles about one in five containers shipped worldwide, increased dividend payout to shareholders to a total of 47 billion Danish crowns ($7.20 billion), or 2,500 crowns per share, compared to 330 crowns per share a year earlier.

The company reiterated preliminary fourth-quarter results published on Jan. 14, when the company said a fall in ocean-going container volumes by 4% was more than offset by freight rates improving 80% compared with a year earlier.

Maersk said last month that it had been overtaken by Swiss-based container group MSC as the world’s biggest shipper.

Also on Wednesday, Danish logistics company DSV predicted the continued supply chain disruption would lift its profits this year.

Source: www.marinelink.com

Image: www.pexels.com

The post Supply Chain Chaos to Boost Maersk 2022 Profit appeared first on Cargo News Today.

After taking delivery of several ships last year, MSC or Mediterranean Shipping Company has capacity to move the equivalent of 4,284 million twenty-foot containers, Alphaliner said. That compares with Maersk’s 4,282 million.

Both companies, which according to Alphaliner hold markets share of around 17%, said size was not the objective.

Asked for comment, Maersk, which has been the biggest shipper for decades, referred to comments made by CEO Soren Skou in May.

“I would like to be CEO of the world’s largest shipping and logistics company, and I believe I have a good chance of holding on to that for some time to come,” Skou said.

“Our goal isn’t to be number 1. Our goal is to do a good job for our customers, delivering strong returns and not least be a decent company for all other stakeholders doing business with Maersk.”

Bottlenecks caused by a surge in demand for consumer goods as the world emerges from the initial pandemic impact has driven container shipping rates to record highs.

MSC, privately owned by the Aponte family, said in an emailed statement it emerged at the world’s biggest container carrier after investing in new ultra-large vessels “to meet the acceleration of global trade and specific client demand for our services”.

“At MSC, we never set a specific target to be the biggest. Growth, profitability and supporting customers are what have driven us,” said MSC Chief Executive Soren Toft, who joined the company from Maersk in late-2020.

Since 2016, Maersk has sold its oil and gas business and bought such as warehouses to transform itself into an integrated logistics company rather than a conglomerate.

It owns the majority of its container shipping capacity, while MSC has chartered some two-thirds of its capacity, Alphaliner said.

Alphaliner says CMA CGM and Cosco are the third and fourth-biggest container shipping companies with 12.6% and 11.6% market share, respectively.

Source: www.marinelink.com

Image: www.pexels.com

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