Maersk's acquisition "war chest" doubles in size to USD 20 billion
The booming container market has bolstered Maersk's coffers so much that the company now has USD 20 billion to use on acquisitions, shows an analysis a few days before Maersk publishes its 2020 annual report. But analyst doubts that Maersk will be able to achieve its earnings target for logistics before 2023.
AF DAG HOLMSTAD, TOMAS KRISTIANSEN
Skyrocketing freight rates throughout 2020 and large volumes of container transport from Asia to the US and Europe caused earnings to become red-hot at Maersk, doubling the company's "war chest" for new acquisitions to USD 20 billion in just a few months, projects investment bank Jefferies.
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