Maersk to boost bottom line with K + N deal

Danish shipping company A P Moller-Maersk has signed one of its largest contracts ever, with the transportation and logistics company Kuehne + Nagel International, Danish business daily Borsen reported.


The contract, valued at between US$639 million to $822 million, is for the shipping of goods.


Borsen cited Danske Bank analyst Peter Rothausen as saying the
contract corresponds to an added growth of one percent for the company's shipping division Maersk Line.


"All other things being equal, this contract would thereby add about $80 million to Maersk Line's bottom line in 2011," Rothausen added.
(Source:http://www.cargonewsasia.com)