MAERSK group's container division, Maersk Line, accounted for nearly half the profit for the entire group - US$2.3 billion versus $4.5 billion - as well as posting its best ever quarter while other division reported varying results in 2014.
The Danish container shipping line, with its 15.5 per cent market share, had a 50 per cent year-on-year 2014 profit increase to US$2.3 billion, drawn on revenues of $27.4 billion, an increase of 4.5 per cent.
Container volumes increased 6.8 per cent to 18.9 million TEU with its average freight rate declining from $2,674 per FEU to $2,630.
"Maersk Line improved its position and the start up of the 2M alliance has gone well," said Maersk Group CEO Nils Andersen.
AP Moller Maersk's port operating unit, APM Terminals, also did well, posting a 16.8 per cent year-on-year profit increase to $900 million in 2014, with a 38.3 million TEU throughput, up 5.3 per cent.
APMT's big event was the opening of its Rotterdam Maasvlakte II terminal, with the good news somewhat offset by a $102 million impairment loss from its troubled Global Ports Russian joint venture.
Still in difficulties was Maersk's forwarding arm, Damco, which posted a $230 million 2014 loss, with a double-digit decline in both ocean and air freight as well as impairments hits from restructuring and other adjustments in various bids to attain profitability.
The impact the world's precipitous fall in oil prices has yet to make its way into company-wide financial calculations given hedging measures in place that not yet worked their way through the accounting system.
But Maersk Oil posted a loss of $861 million from a profit of $1.04 billion as the oil prices plunged. On the other hand, Maersk Tankers was in the black again, posting a profit of $132 million, against a loss of $317 million a year ago.
Maersk Line fleet capacity rose 12 per cent in the year to 2.9 million TEU, driven by additional time charters.