16/08/2021
Danish Maersk, the world's largest maritime transport giant, will acquire two e-commerce firms due to high shipping demand, heading the company for a big profit in the second quarter of 2021.
Accordingly, Maersk acquired the US e-commerce logistics company Visible Supply Chain Management for US$ 838 million and a company specializing in providing cross-border delivery named B2C Europe for a value of 86 million dollars.
Maersk CEO Soren Skou said: “Our earnings and cash flow enable us to further accelerate our transformation, invest in growing the business, also through targeted acquisitions. These two companies will further accelerate our logistics growth particularly in e-commerce by adding technology and last mile delivery capabilities for our customers in the United States and Europe"
Maersk's net profit for the period April-June 2021 rose a nearly nine fold YoY increase to reach $3.7 billion.
Due to the pandemic, freight demand has increased sharply since mid-2020 and especially towards the end of the year, with goods moving from Asia to the US and Europe.
Bnews
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