Maersk sees slightly higher profits

Within these figures, Maersk Line made a profit of US$461m compared to its loss of US$553m in 2011, with ROIC of 2.4%. The results were positively affected by improved volumes, which increased by 5% to 8.5m FFE, rates and unit costs. The average freight rates were 1.9% higher at 2,881 US$/FFE (2,828 US$/FFE – 2011). Bunker consumption per FFE was reduced by 11% while the headquarters headcount was reduced significantly.

Maersk Line announced and implemented significant general rate increases on most trades backed by active capacity adjustments in the form of slow steaming, scrappings, idling and blanked sailings.

Maintaining its market share for the full year, Maersk Line’s total fleet capacity increased by 4% to 2.6m teu (2.5m teu – 2011); the capacity growth in owned fleet was partly offset by redelivery of time charter vessels. Cash flow from operating activities was US$1.8bn (US$ 899m) and cash flow used for capital expenditure was US$3.6bn (US$ 3.2bn).