COPENHAGEN, Denmark (AP) — Denmark's shipping and oil group A.P. Moller-Maersk says its fourth-quarter earnings reached 5.5 billion kroner ($975 million) thanks to improved rates and unit costs in its container unit, which is the world's largest.

The Copenhagen-based group, owner of the Maersk Line, says revenue for the three-month period ticked up nearly 3 percent on an annual basis to 84.8 billion kroner ($15 billion).

Maersk, which is seen as a bellwether for international trade, says full-year profits for 2012 rose 6 percent to 342 billion kroner ($60 billion), while revenue soared 23 percent to 23.4 billion kroner.

CEO Nils S. Andersen described the result as "satisfactory" in a Friday statement, though he said there was uncertainty for this year due to slow growth and overcapacity in the shipping industry.


Due to the overwhelming enthusiasm of our readers it has become necessary to transfer our commenting system to a more scalable system in order handle the content.