A.P. Moller-Maersk is expecting its logistics revenue to overshadow its ocean business around the middle of this decade. Amidst rising inflation and the Ukraine war, shipping activities have taken a back seat. Peak freight rates have started to normalise due to low demand and decreased congestion, thereby nudging the company to explore more options.
Moller believes that they can provide more value to their customers, not only in terms of ocean freight share but with their logistics needs as well. The firm’s revenue grew 37per cent in their last quarter, thanks to higher freight rates negotiated in early 2022 when space demand was at a peak, with their net profit jumping to a record of $8.9 billion from $5.4 billion a year earlier. The company has also pumped billions of dollars into its container lines.
