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The world’s largest container shipping firm posts soaring second-quarter earnings - superadmin - 08-06-2021 Earnings before interest, tax, depreciation and amortization (EBITDA) came in at $5.1 billion, a 200% increase from the $1.7 billion reported in the same period last year. Container shipping rates have skyrocketed as the global economy bounced back from the Covid-19 pandemic and commodity demand recovered, while a shortage of containers exerted pressure on supply chains. Maersk, the world’s largest container shipping firm, has posted a sharp increase in second-quarter earnings as congestions and bottlenecks continue to drive up shipping rates. The company on Friday reported earnings before interest, tax, depreciation and amortization (EBITDA) of $5.1 billion, a 200% increase from the $1.7 billion reported in the same period last year. Revenues were up almost 60% to $14.2 billion. Container shipping rates have skyrocketed as the global economy bounced back from the Covid-19 pandemic and commodity demand recovered, while a shortage of containers exerted pressure on supply chains. More recently, a combination of rising retailer orders and slower turnaround rates due to Covid-19 outbreaks in several countries has driven prices even higher. - More -