Maersk profits double in 2nd quarter

COPENHAGEN:

Danish shipping giant Maersk said on Wednesday its profits doubled in the second quarter as freight prices have soared due to persistent bottlenecks on trade routes. Demand for shipping plunged at the start of the Covid pandemic, but it has rebounded strongly since the second half of 2020, causing massive disruptions in supply chains. Maersk, the world’s largest container shipping line along with Italy’s MSC, has posted robust profits since the second half of 2020. Its net profit for the second quarter reached $8.6 billion. 

Published in The Express Tribune, August 4^th, 2022.

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