According to Alphaliner, the terminal operator APM Terminals of Denmark’s APM Moller Maersk benefits from higher container storage prices at the ports it operates.
APM Terminals, a division of the Maersk Group, saw operating earnings (EBIT) increase by almost 10% to USD 357M in the third quarter, despite a modest increase in volumes, informs Alphaliner.
Instead, revenue, which increased 9% to $1.1bn, was largely driven by CPI-related fee increases and higher storage revenue related to global congestion.
According to Alphaliner, overall, the Hague-based terminal operator posted a 1.5% year-on-year increase in volumes (or 2.8% like-for-like, adjusted for departures), driven by growth in Europe and Asia.
Container movement revenue increased 7% to $335, up from $314 a year earlier, though costs were up as well, with non-administrative labor expenses up more than 10% year-over-year.
Source: Alphaliner
