Maersk Line Vietnam on a fruitful voyage

For the first quarter of 2013, Maersk Line Vietnam and Cambodia showed a positive result compared to same quarter last year. Its volumes grew by 2 per cent and revenue by 5 per cent.

“Globally, Vietnam is still considered an attractive sourcing destination with competitive advantages in low labour costs, a strategically sound geographical location, leading positions within agricultural exports, high gross domestic product growth rate, long term political stability, and a government committed to enhancing economic stability and development,” said Maersk Line Vietnam director Nguyen Thi Ngoc Bich.

“As a result, despite the gloomy situation of global economy, there are still great opportunities to pursue,” Bich said.

Maersk Line in Vietnam and Cambodia grew 7 per cent in 2012. For the remaining of 2013, Maersk Line will focus on maintaining the market position and increasing profitability levels. In order to achieve these goals, the world’s largest carrier will keep focusing on delivering excellent customer experiences, develop their people across local and global organisations and continuously cut its cost base.

Maersk Line Global in this year’s first quarter made a profit of $204 million - up from minus $599 million in last year’s first quarter - and a return on invested capital of 4 per cent – up from minus 12.7 per cent in last year’s corresponding period.

The significant turnaround in the financial performance was achieved by means of lower operating costs as revenue of $6.3 billion remained unchanged. The average freight rates increased 4.7 per cent compared to last year’s first three months, partly offset by 4 per cent lower volumes.

Highlights for A. P. Moller-Maersk Group: