Maersk Line reports 2014 results
Maersk Line delivers a 2014 result that is USD 831 million higher than 2013. Company achieved this by lower unit cost and increasing its volumes while the rates decreased by 1.6%. The lower unit cost is the result of a better vessel utilisation and network efficiencies.
USD 2,341 million profit - a 55% improvement compared to 2013 (USD 1,510m)
11.6% return on invested capital (7.4%)
Volumes increased by 6.8%, average rate decreased by 1.6%
Unit cost decreased by is 4.3%
Underlying result for 2015 expected to be higher than 2014 (USD 2.2 billion)
Global container shipping demand in 2015 expected to grow by 3-5%, nominal supply by 5-7%
Revenue in 2014 was USD 27,351 million. Volumes increased by 6.8% to 9.4 million FFE.
The volume increase is above the 3.6% market growth. However, our market share (capacity) remains at 15% and our long-term strategy is to grow with the market.
In September, Maersk Line announced investments plans of approx. USD 3bn p.a. in 2015-2019. To ensure that we can continue to grow with the market, we need more vessels and containers by 2017. We expect to start ordering new vessels in the spring of 2015.
“Our financials are strong and our strategy is working. But we cannot rest on our laurels. We do business in a highly competitive industry with over-capacity. We must remain focused and continue to defend our market position with cost leadership and improved products for our customers,” says Søren Skou.
About Maersk Line
Maersk Line is the world’s largest container shipping company, known for reliable, flexible and eco-efficient services. We provide ocean transportation in all parts of the world. We serve our customers through 374 offices in 116 countries. We employ 7,100 seafarers and 25,500 land-based employees and operate 610 container vessels. We market our services through the Maersk Line, Safmarine and SeaLand (Intra-Americas) brands. Maersk Line is the holding company for MCC Transport (Intra-Asia), Seago Line (Intra-Europe) and Mercosul (Brazil).
Maersk Line is part of the Maersk Group, headquartered in Copenhagen, Denmark. The Group employs about 89,207 people in around 130 countries. 2014 revenue: USD 48 billion.
