The AP Moller-Maersk group has posted a 2007 net profit of US$3.4 billion, an increase of 26 per cent compared with the previous year.
Shipping and related business accounted for 52 per cent of the group's revenue, which grew by 17 per cent to $51.2 billion, yet this business division generated only six per cent of net profit.
APM Terminals, Maersk's container terminal arm and part of Maersk Line, returned 'profit for the year' (after tax, interest, depreciation) of $111 million, while the container shipping business as a whole generated $217 million.
A report by the UK's Transport Intelligence noted that after removing contributions from other businesses such as Maersk Logistics, profit for Maersk Line was $100 million.
Maersk Logistics, which includes freight forwarder Damco, generated revenue of $3 billion in 2007 but its profit came in at $6 million.
By contrast, CMA CGM announced 2007 revenue growth in US dollar terms of 40 per cent to $11.8 billion and net income growth of 58 per cent in dollar terms to $996 million on the back of a 28 per cent increase in container volumes.
This indicates that CMA CGM is continuing to turn a profit even as the transatlantic trade shows signs of slowing down, while Maersk may face losing market share, raising speculation that the Danish shipping giant may be forced to divest some logistics and terminal assets.
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