Danish shipping company Maersk Line released a report on Tuesday announcing that shipping demand grew 3 percent year-over-year, and container volumes exceeded 18 million 20-foot equivalent units.
Maersk Line is the largest container-shipping company in the world in terms of capacity, and is expecting much higher full-year net profits than previously projected.
The company shipped 2.4 million 40-foot equivalent units during the third quarter, representing a 3.7 percent increase from last year. Maersk credited the improvement to lower overall shipping costs and an increase in average freight rate.
"Maersk is looking at a very good full year boosted by its cost-efficiency strategy and lower fuel costs," confirmed container-shipping analyst Jonathan Roach to the Wall Street Journal.
Maersk Line's parent company, the conglomerate A.P. Moller Maersk, reported that this increased shipping demand and cost-efficient approach led to its 33 percent rise in third-quarter net profit. The resulting net profit was $1.47 billion, as compared to the $1.13 billion profit earned in the same period last year. Revenue rose to $12.17 billion overall.
Shipping is a complicated industry, and larger companies typically have more resources to invest in exploring new avenues and making their systems as efficient as possible. Fuel costs, staffing, warehousing, laws and regulations, tracking, pricing and supply chain logistics all have to be considered carefully for a transportation process to go smoothly.
At Reliable Runners, we specialize in shipping so that you can forget about all the details and focus on growing your business. Our experienced employees fulfill orders both large and small in a timely, accurate, responsible manner.
It's often more efficient to hire a third-party logistics team than to try handling all your shipments internally, so give Reliable Runners a call if you need some expert advice on how to make your supply chain run more smoothly.