AP Moller-Maersk, the parent company of the world's largest container shipping carrier Maersk Line, has released its interim report, which reveals a second-quarter net profit fall to US$965 million from $1.57 billion in the same period last year, drawn on a one per cent decrease in revenues to $15.3 billion.

For the container shipping arm of the business, Maersk Line's profit for the period was $227 million, seeing an improvement from a loss of $95m recorded in the same period last year. Maersk Line's volumes grew 11 per cent to 2.2 million FEU and the average freight rate increased by 4.2 per cent to $3,014 per FEU.

The company said Maersk Line implemented further rate increases on most trades during the quarter backed by capacity reduction. But a 10 per cent increase in the bunker price was partly offset by an eight per cent reduction in bunker consumption per FEU.

It said a restructuring of Maersk Line's headquarters has started and this will reduce headcount by about 400 employees.

Said Group CEO Nils Andersen: "We delivered a fairly satisfactory result for the second quarter, and we are on the right track. Container rates have been improved, Maersk Line is back in black figures and our other core growth businesses are executing well on strategy. We can still improve and will continue our strong focus on profitability to deliver a satisfactory full-year result. We also maintain our investments in long-term growth, not least in developing our many oil discoveries towards production,"

APM Terminals posted a profit for the period of $160m, almost the same compared to a gain of $162 million in the same quarter 2011. Throughput increased by seven per cent and by five per cent on a like-for-like basis to 9.1 million TEU.

The west Africa region and some terminals in Asia saw double digit growth rates, but most European terminals experienced declining throughput in the second quarter. Looking ahead, APM Terminals will continue to expand in China and Mexico. Also, an unsolicited proposal to operate all Port of Virginia's facilities in Hampton Roads, US, was submitted in the quarter.

For the first six months, Maersk Line made a loss of $400 million compared to a profit of $300 million in the same period last year. But the volume increased 15 per cent to 4.4 million FEU and average freight rates, including bunker surcharges, were two per cent lower.

The company said Maersk Line now expects "a modest positive result in 2012 based on higher average rates in the second half of the year." The group is forecasting global demand for seaborne containers to rise four per cent in 2012, but expects full-year inbound European volumes to drop.