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The Shipping Irony: Maersk’s Volumes Rise but Profits Drop 80%
In a glaring illustration of the boom-and-bust cycle gripping global trade, A.P. Moller-Maersk, the world’s second-largest container shipping line, has reported a devastating drop in profits despite physically moving more cargo. The company’s core shipping business saw earnings fall by as much as 80-90% in 2023, signalling a definitive end to the unprecedented boom the…