The A.P. Moller - Maersk Group's revenue for the period 1 Jan to 31 Mar 2011 has increased by 10% to USD 14.5bn, primarily due to higher container freight rates, container volumes and oil prices. Profit for the period has increased by 82% to USD 1.2bn and was driven by better operational performance in most business units.
The Group still expects a result lower than the 2010 result, as stated in the annual report for 2010.
The Group expects the global demand for seaborne containers to grow by 6-8% in 2011. The global supply of new tonnage is expected to match or grow more than the freight volume especially on the Asia to Europe trade. The Group expects freight rates to remain under pressure short term, but see a stronger market in the second half year, while increased bunker and time charter costs are expected to continue to impact margins negatively. The Group’s container activities expect a satisfactory result, but below the 2010 result.
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