Maersk’s Logistics arm affected by destocking, ‘normalization’ trends
Airfreight more ‘volatile’ than ocean freight, says CEO
A.P. Moller-Maersk, parent of Maersk Air Cargo, reported first quarter revenue of $14.2 billion today, a year-over-year decrease of 26% as logistics firms’ results continue to come off their Q3 2022 peak. The Danish ocean shipping giant’s operating profit (EBIT) was $2.3 billion, down 68.5% from the $7.3 billion in the corresponding quarter of 2022. […]
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