The world’s biggest shipping company, Denmark’s A.P. Moller-Maersk, on Feb. 10 reported a sharp rise in earnings for the fourth quarter, when global demand for goods rebounded from an earlier slump caused by the coronavirus pandemic.
The Copenhagen-based company reported a net profit of $1.3 billion in the fourth quarter of last year from a loss of $72 million a year earlier. Revenue rose 16% to $11.3 billion.
CEO Soeren Skou said the quarter was marked “on the one hand by a continuous impact of the COVID-19 pandemic” but also “by some rewarding progress on our strategy to become the integrator of container logistics.”
