- Maersk achieved 53% year-on-year brand growth, reaching a value of $7.4 billion.
- The company’s logistics business recorded revenues of $14.4 billion in 2022.
- Despite logistics growth, ocean shipping remains its dominant revenue source.
- Ranked as the eighth most valuable logistics brand globally.
Danish container shipping giant Maersk continues to push its transformation into a fully integrated logistics provider, expanding aggressively in the logistics sector, reports Seatrade Maritime News.
According to the Brand Finance Logistics rankings for 2023, Maersk’s brand value surged by 53% year-on-year, reaching $7.4 billion. “Maersk has now more-than doubled (up 121%) in brand value from its pre-pandemic level,” Brand Finance stated.
Expanding Logistics Operations
Maersk’s expansion in logistics includes the acquisition of LF Logistics in Asia and the growth of its air cargo operations. The company launched Maersk Air Cargo, which currently operates a fleet of 21 aircraft, with one more on order. These investments have contributed to record revenues and forecasted continued growth in the sector.
Revenue Comparison: Logistics vs. Ocean Shipping
Maersk’s logistics business reported revenues of $14.4 billion in 2022, up from $9.83 billion in the previous year. However, its ocean shipping segment remains dominant, generating $56.5 billion in 2022, an increase from $42.4 billion in 2021.
In a strategic shift, Maersk has been reducing its container shipping fleet. Analyst firm Alphaliner reported a 2.1% decrease in its liner capacity, bringing it to 4.14 million TEU between January and July 2023.
Global Brand Ranking
Overall, Maersk secured the eighth position in Brand Finance’s global logistics brand rankings, with a valuation of $7.1 billion. Leading the rankings was UPS, despite an 8% decline in brand value, maintaining its top position with a valuation of $35.4 billion.
Maersk’s continued investment in logistics signals a long-term commitment to diversifying its revenue streams beyond container shipping, ensuring resilience in a competitive market.
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Source: Seatrade Maritime News
