Maersk’s contract business cushions impact of ‘normalizing’ market

Maersk has invested $10.5 billion in its logistics and services business to date, but results are falling behind plan after last year’s volumes evaporated.

Shipment volume at the third-largest LTL carrier in the US jumped nearly 9% in July from a year ago and 3.2% from June as shippers moved freight away from rival carrier Yellow.

Air cargo capacity continues to grow through the summer, outpacing weak demand from major destination markets with no sign yet of any turnaround.