Notes increased demand in the fourth quarter

AP MOeller-Maersk AS announced that it saw increased demand in the fourth quarter, while fares increased due to problems throughout the supply chain, including a shortage of ships and containers.

As a result, the first quarter of 2021 is expected to be stronger than the fourth quarter of 2020.

The Danish shipbuilder posted a net profit of $ 1.3 billion for the quarter, up from a loss of $ 72 million a year ago, compared with analysts’ expectations of $ 1.39 billion.

Revenue rose 16 percent to $ 11.26 billion, while $ 10.91 billion was expected.

Maersk, which is considered a barometer for world trade, reported that transport volumes increased by 3.2% and the average fare increased by 18%, while fuel costs fell by 14% on an annual basis.

The company expects underlying EBITDA in 2021 to be $ 8.5-10.5 billion from $ 8.3 billion in 2020, while cash flows are expected to be higher than $ 3.5 billion compared to $ 4.2 billion in 2020.

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