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Maersk Line's second-quarter profit doubled

2013-08-22 08:00

In the second quarter of 2013, Maersk Line, the world's largest shipping company, achieved a profit of US$439 million, nearly double the US$227 million in the same period last year.

This is comparable to the industry average of US$461 million in 2012. The company attributes this significant increase in performance to "cost savings." Improvements in routes and other measures increased network efficiency, while lower fuel oil prices resulted in a 12.7% reduction in cost per FEU, saving US$897 million year-on-year.

Despite a downward trend in freight rates, second-quarter sales reached US$6.651 billion, a 9.2% decrease year-on-year.

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