Maersk Line positive about second quarter results
Maersk Line positive about second quarter results
In the second quarter, Maersk Line Vietnam and Cambodia increased shipping volume but saw a drop in revenue compared to the same quarter last year.
Shipping volume grew by 9 per cent while revenue fell by 3 per cent, said the Danish-backed company.
“Although we saw a drop in revenue, we feel that our second quarter result is positive. We increased shipping volume and saw significant cost reductions, particularly in terms of fuel, which is one of our main outlays,” said Nguyen Thi Ngoc Bich, CEO of Maersk Vietnam and Cambodia.
“These improvements point to a very successful third quarter,” she added.
The company is part of Maersk Line, the largest operating unit of Copenhagen-based A.P. Moller-Maersk Group.
The company’s second quarter report stated that Vietnam was still an attractive sourcing destination that is highly competitive in terms of labour costs, location, its strong position in terms of agricultural exports, high GDP growth, long-term political stability, and a government committed to economic growth and development.
The report added that despite difficulties in the global economy, the company saw great opportunities in Vietnam.
Maersk Line Vietnam and Cambodia grew by 7 per cent last year. For the rest of this year, the company stated that its goal was to maintain market position and increasing profitability. It reasserted its mission to ensure positive customer experiences, continue developing a stable and innovative workforce, and cut costs as opportunities arise.
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