Maersk: Supply Chain Constraints To Continue Until The First Quarter Of Next Year
London, Tuesday, 2 November 2021 –
The Danish-based shipping giant said Tuesday it expects global supply chain difficulties to continue until the first quarter of next year.
The firm stated: “The current trading conditions are still subject to a higher-than-normal uncertainty due to the temporary nature of current demand patterns and disruptions in the supply chains. Customers’ supply chains have been heavily disrupted due to the market situation in the third quarter of this year”.
In its financial results statement it said: “Customers are increasingly demanding end-to-end solutions to mitigate supply chain disruptions. Ocean (traffic) was impacted by network disruption, congestions, and additional costs caused by shortages across the supply chain, driving up freight rates in combination with a surge in demand," it added.
In the meantime, despite supply chain constraints, Maersk, the world’s largest container shipping company, posted record earnings and revenue in Q3.
The firm’s income took off from $947 million in July-September last year to $5.46 billion in the same period this year, with revenue increase 67% to $16.61 billion, from $9.92 billion during the same period.
(Written and edited by: The Decision Maker)