How container operators increased profits due to disruptions in

The world's largest container carrier, the Danish shipping company AP Moller-Maersk A/S (Maersk), increased its net profit in the first half of 2021 by more than 10 times, to $6.41 billion compared to the same period last year. Revenue rose 43.6% to $26.7 billion and EBITDA grew 2.8 times to $9.1 billion, the company said.

Such indicators of the company were provided by a sharp increase in freight rates, which continues from the second half of 2020. The reason for this was the shortage of containers amid the boom in online trade during the CORONAVIRUS pandemic, as well as congestion in ports. An additional effect on the market was the week-long blockade of the Suez Canal at the end of March due to the fact that it was actually blocked by the Ever Given container ship from Evergreen. Both maritime and rail container carriers have benefited from high freight rates.

“The results were boosted by exceptional circumstances in the shipping market, where congestion and bottlenecks continued to drive up freight rates,” Maersk CEO Soren Skou said in a statement. Since the start of the second half of 2020, Maersk shares have more than doubled to an all-time high.

Maersk holds 17% of the global container ship market.