Shipping company Maersk reported $5.44 billion in quarterly profit, reaping the benefits of global supply-chain strains that have pushed up ocean freight rates near record levels
Shipping company A.P. Moeller-Maersk A/S is reaping the benefits of global supply strains thatnear record levels and caused backlogs at U.S. ports. The company reported a profit of $5.44 billion for the September quarter, more than five times the profit it had a year ago.
Put another way, Maersk made almost as much money in three months as Amazon.com Inc. and United Parcel Service Inc. combined. Amazon reported a third-quarter profit of nearly $3.16 billion and UPS posted a profit of $2.33 billion.
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