on Friday posted better than expected fourth-quarter revenue and earnings, fuelled by record freight rates for container shipping.
A fall in ocean-going container volumes by 4% in the last three months of the year was more than offset by freight rates improving 80% compared with a year earlier. "The strong result in the quarter reflects the continuation of the exceptional market situation within Ocean caused by global disruptions to supply chains, which have led to further increase in container freight rates," Maersk said in a statement.Crew members look out from the container ship, the MV Maersk Mc-Kinney Moller, as it berths during its maiden port of call at a PSA International port terminal in Singapore September 27, 2013.
Underlying earnings before interest, tax, depreciation and amortization totalled $8 billion, above guidance given by the company in November and the $7 billion expected by analysts in a Refinitiv poll.The company will publish full financial results on Feb. 9.Reporting by Jacob Gronholt-Pedersen Editing by David GoodmanSubscribe to our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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