By Max Clarke
A.P. Moller — Maersk Group, the Danish conglomerate and shipping giant, has published a profit for 2010 of $5 billion, compared to their 2009 losses in excess of $1 billion. Revenue jumped to $56 billion, up from the $48.5 posted in 2009.
The world’s largest containerised freight shipping company enjoyed a global resurgence in the volume and cost of trade, with volumes up 5% globally and strong growth in Asia- Europe trade.
Aside from the growth in shipping, oil and gas operations accounted for a $1.7 billion profit, with operations in the Gulf of Mexico and Brazil.
While expecting to see profits for 2011, the conglomerate is less optimistic that performance will exceed 2010’s strength. Overall 2011 performance is the subject of uncertainty, with minor fluctuations in the global price in oil, and in the price and volume of trade highly affecting forecasts. Currently a 6-8% increase in trade volume is expected, and with 2010’s investment in oil fields, oil and gas are expected to remain profitable.