COPENHAGEN: Danish shipping giant AP Moller-Maersk on Wednesday posted a near six-fold increase in net profit for 2020, as demand during the coronavirus pandemic rebounded strongly from an initial slump, sending freight rates soaring.For the full year 2020, Maersk recorded a net profit of US$2.9 billion in its ongoing operations.
Gross operating profit, Ebitda, increased by 44% to US$8.23 billion, thanks to reduced costs and optimisation of the supply chain. At the end of 2020, global container volumes were higher than at the end of 2019, the Danish freight behemoth noted.
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