Maersk posts record $9bn first-quarter earnings on higher rates
Chief executive Søren Skou says the improvement is driven by stronger freight rates and by contracts being signed at higher levels. Carriers are developing a reputation for riding on the back of recent price spikes to lock in long-term contracts at extremely profitable price rates
Higher freight rates have more than offset the reduced lifting volume and increased bunker and handling costs. Terminal operations booked a $485m impairment in port investment but still recorded 20% growth in revenue
