Independent journal on economy and transport policy
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The latest quarterly performance of the Ocean division of the Maersk Group was very positive
In the period October-December 2020, record revenues were recorded
February 10, 2021
The significant increase in financial performance contributed to the decisively the marked improvement in the results ocean division, which brings together the activities of the containerised maritime transport of the group, a sector in which A.P. Møller-Mærsk is a world leader and is the core business of the group. In the last quarter of 2019, 2020, in fact, the division recorded record revenues of 8.26 billion dollars, an increase of +15.5% over the same period of the previous year and an increase of $247 million compared to the previous historical quarterly peak set in the third quarter of 2008. The achievement of the new record is was allowed by the +19.2% increase in revenues deriving from the directly from maritime transport activities containerized that totaled $7.17 billion, while other revenues fell by -3.9% to 1.09 Billion. The Ocean division closed the fourth quarter of 2020 with a record gross operating margin of 2.21 billion dollars (+96.3%). The previous record EBITDA had been achieved in third quarter of 2008 with $1.80 billion.
If the record performance has been marginally contributed by the growth of +3.2% in containerised volumes transported by the fleet which amounted to 3.4 million containers of 40' (feu), of which 1.6 million teu transported on east-west routes (+6.3%), 1.0 million on north-south routes (-2.9%) and 778,000 feu on those (+5.9%), the largest contribution is was the one guaranteed by the growth of the nuts whose average value in the period October-December 2020 was 2,192 dollars/feu, 17.7% higher than the corresponding quarter of the previous year, with an average rental of 2,243 east-west services (+26.8%), 2,746 north-south services (+15.6%) and $1,443/feu to intra-regional services (+6.2%).
In the full 2020 financial year, the revenues of the A.P. Group Møller-Mærsk amounted to 39.74 billion up 2.2% on the previous year. EBITDA is amounted to 8.23 billion (+44.0%), operating profit at 4.19 billion (+142.7%) and net profit at $2.90 billion compared to a net loss of -44 million dollars in 2019.
Last year, the Ocean division alone reported revenues equal to to $29.17 billion (+1.4%), of which $24.92 billion was generated directly from maritime transport activities (+1.9%), and an EBITDA of 6.55 billion (+47.5%). In 2020 the containerised volumes transported by the fleet were more than 12.6 million feu (+5.0%) and the value of the average rental was $2,000/feu (+7.9%).
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The significant increase in financial performance contributed to the decisively the marked improvement in the results ocean division, which brings together the activities of the containerised maritime transport of the group, a sector in which A.P. Møller-Mærsk is a world leader and is the core business of the group. In the last quarter of 2019, 2020, in fact, the division recorded record revenues of 8.26 billion dollars, an increase of +15.5% over the same period of the previous year and an increase of $247 million compared to the previous historical quarterly peak set in the third quarter of 2008. The achievement of the new record is was allowed by the +19.2% increase in revenues deriving from the directly from maritime transport activities containerized that totaled $7.17 billion, while other revenues fell by -3.9% to 1.09 Billion. The Ocean division closed the fourth quarter of 2020 with a record gross operating margin of 2.21 billion dollars (+96.3%). The previous record EBITDA had been achieved in third quarter of 2008 with $1.80 billion.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
