Maersk’s container terminals posted higher traffic and revenue in the second quarter, thanks to new business from German carrier Hamburg Süd, which was acquired by Maersk Line, its major customer.
Gateway Terminals’ revenue inched to $671 million from $661 million in the second quarter of 2017, mainly due to higher traffic at Latin American terminals. In the quarter, increased synergies between Maersk Line and the integrated Hamburg Süd were partly offset by divested entities and lower construction revenue in terminals under construction.
Volume rose 7.6 percent to 4.2 million moves compared with 3.9 million moves in the second quarter of 2017.
Adjusted for divested terminals, volume increased 8.8 percent, of which external customers accounted for 3.5 percent, and Maersk Line and Hamburg Süd for 18 percent.
Also, Gateway Terminals won nine new contracts during the quarter, while four contracts were terminated, resulting in a net gain of 300,000 moves on a full-year basis.
Revenue per container
Revenue per container move inched up to $199 from $194, reflecting higher volumes at North American and Latin American terminals, where average market rates are higher.
Traffic in the Americas surged 31 percent to 1.1 million moves from 900,000 moves, while Asian volume dipped 1 percent to 1.8 million moves. Traffic at terminals in Europe, Russia, and the Baltic region increased 3.7 percent to 800,000 moves.
“The Hamburg Süd integration and collaboration synergies with the Ocean segment contributed to volume growth and the transformation journey to become a best-in-class terminal operator continues to progress as evidenced by decreasing cost per move in financially consolidated terminals,” A.P. Moller-Maersk said.
Maersk did not provide separate earnings figures for APM Terminals, which is now part of the Danish group’s terminals and towage unit. That unit increased earnings before interest, tax, depreciation, and amortization to $178 million from $149 million a year earlier on combined revenue of $847 million versus $819 million last time.
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