Carriers

Long contracts double profits of Maersk's Ocean business

Even though Maersk has transported fewer containers in Q2, the carrier has more than doubled profits in its Ocean division. Increasing freight rates pull results up, and customers are increasingly signing long-term contracts.
A large increase in freight rates has led to high profits at Maersk. | Photo: JOHN THYS/AFP / AFP
A large increase in freight rates has led to high profits at Maersk. | Photo: JOHN THYS/AFP / AFP
by ASKE MUFF

Maersk has seen significant progress in its biggest business leg, Ocean, where higher freight rates have ensured more than a doubling of profits, according to Maersk’s Q2 financial report issued Wednesday morning.

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