19 Aug 2010

Global shipping container firm returns to profit

12:33 pm on 19 August 2010

The world's largest container shipping firm, AP Moller-Maersk, has returned to profit in the first half of the year, thanks to a recovery in container volumes.

The company's performance is seen as a barometer of global trade.

The group reported an after tax profit of $US2.4 billion during the period, nearly double what was expected, while revenues increased 20%.

Maersk expects profits for 2010 to exceed $US4 billion, up from an earlier forecast of $US3.5 billion.