Home » Breaking News, Ports/Terminals » Higher profit for APM Terminals in weak market

Global port operator APM Terminals made US$179 million in profit for the second quarter of 2013, an improvement from the $160 million in the same quarter of last year.

The profit hike of $19 million came mostly from associated companies and joint ventures mainly located in high-growth markets.

Revenue for the second quarter rose by 1.9 percent to $1.06 billion year-over-year.

Volume levels from April to June were at 9.1 million TEUs (20-foot-equivalent units), the same as those of last year, with most terminals in Europe and North America recording declines, offset by continued positive developments in high-growth markets.

For the first six months of 2013, APM Terminals,  a conglomerate of A.P. Moller-Maersk, posted a profit of $345 million, a decline from the $386 million in earnings made in the first half of 2012.

Revenue was $2.10 billion, down from the $2.11 billion for the same period in 2012.

Container throughput from January to June 2013 reached 17.7 million TEUs, slightly lower than the 17.6 million TEUs for the first six months of the preceding year.

Saying that APM Terminals “continues to deliver good results,” an official group release forecasts earnings above the $701 million in profit cleared in 2012, “supported by volumes from new terminals, and improving productivity in existing facilities.”

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