Safmarine, an AP Moller-Maersk unit specialising in north-south routes, announced a net profit of US$186 million drawn on a revenue over $2.4 billion in the first nine months of the year.
As this was the first time Safmarine has reported financial results, no comparative year-on-year figures were made available. But compared with its parent's container division, the carrier only made 7.75 US cents on every dollar earned, which was lower than its holding company's 17.7 cent rate, reported London's Containerisation International. AP Moller-Maersk recorded a net profit of $2.25 billion with $19.5 billion revenue in the same period.
This reflects the fact that the east-west trade is the most profitable sector for most carriers and the size is much bigger than the vertical one. But as a carrier mainly provides north-south services, Safmarine's financial ratios last year were better than Maersk Line's, implying north-south trade experiences less fluctuation.
Overall, Safmarine carried 606,478 FEU in the first nine months of the year compared to Maersk's 4,793,522 FEU in the same period.
As this was the first time Safmarine has reported financial results, no comparative year-on-year figures were made available. But compared with its parent's container division, the carrier only made 7.75 US cents on every dollar earned, which was lower than its holding company's 17.7 cent rate, reported London's Containerisation International. AP Moller-Maersk recorded a net profit of $2.25 billion with $19.5 billion revenue in the same period.
This reflects the fact that the east-west trade is the most profitable sector for most carriers and the size is much bigger than the vertical one. But as a carrier mainly provides north-south services, Safmarine's financial ratios last year were better than Maersk Line's, implying north-south trade experiences less fluctuation.
Overall, Safmarine carried 606,478 FEU in the first nine months of the year compared to Maersk's 4,793,522 FEU in the same period.