Initial third quarter results show that A.P. Moller - Maersk has boosted its revenue while volumes fell 3% on last year’s figures with the fourth quarter expected to see a strong performance, with some uncertainties for 2021.

The global pandemic has led to the substantial increase in rates, particularly on the Transpacific trades, marking a surge in volumes as shippers sought to replenish stocks following the lockdown in both Europe and the US. This resulted in unaudited revenues of US$9.9 billion and earnings before interest, tax, depreciation and amortisation (EBITDA).

Restructuring costs of US24.4 billion for Q3 2020, including US$100 million to cover the 2,000 or so redundancies has seen a further reduction in costs that should bolster Q4 returns.