Danish shipping and logistics giant A.P. Moller – Maersk has continued to deliver strong growth and profitability with profit going up to $3.7 billion in the second quarter of 2021.

Revenue was up almost 60% to $14.2 billion compared to the same quarter last year and EBIT amounted to $4.1 billion, which is up more than five times.

With a net profit of $3.7 billion in the second quarter of 2021, the net result for the first half of 2021 went up to $6.5 billion, the company revealed in its financial report.

“The results benefitted both from the exceptional circumstances in Ocean, where congestions and bottlenecks continued to drive up rates, and from solid progress in executing on our strategic transformation,” Søren Skou, CEO of A.P. Moller – Maersk commented.

“Looking at both the second quarter and the first half, I am pleased with the progress made and the high value generation, with a return on invested capital now at 23.7% for the past 12 months.”

The outlook for global market demand growth for the year has been revised up to 6-8 percent (about one percentage point), still mainly driven by American demand for Chinese goods.

Accordingly, Maersk has raised its profit guidance upwards, it now expects full-year EBITDA in the range of $18-19.5 billion (about $5 billion more than previous guidance of $13-15 billion) and underlying EBIT expected in the range of $14-15.5 billion (previously $9-11 billion).