Supply Chain Research

Maersk reported 3Q revenues that were 14% higher than a year earlier. That was in-line with the sector average, but 2% better than analysts had expected. The container shipping business, now 76% of the total after the sale of various energy businesses, grew by 14%. That was a strong result given a contraction in volumes due to the Petya virus near the start of the quarter. It included a 14% growth in achieved rates on a year earlier. However, the prolonged downturn in rates during the third quarter may mean the fourth quarter will be more challenging. APM Terminals suffered more from the...