Damco, the logistics arm of Danish shipping giant Maersk, saw 2018 third quarter (Q3) airfreight revenues decrease 2.6 per cent to US$152m, with reduced volumes of 9.1 per cent to 46,000 tonnes, reports Aircargo News.
Gross profit increased slightly in airfreight, as a reflection of the higher margins, to US$21m from US$20m. Margins increased by 17 per cent to US$451 $/ton because of "the continuous focus on profitable business".
During the first nine months of 2018, Damco airfreight volumes fell 10.5 per cent to 130,434 tonnes. Airfreight revenues in the same period rose 1.1 per cent to US$440m.
Third quarter ocean freight revenue declined slightly to US$165m from US$167m, while volumes increased by 2 per cent to 171,000 TEU.