February 22, 2013 8:00 AM, EST
Maersk Reports $975 Million 4Q Profit

A.P. Moller-Maersk said Friday it had fourth-quarter earnings of $975 million on improved rates in its container subsidiary, the Associated Press reported.

Revenue in the fourth-quarter for the owner of the world's largest shipping company, Maersk Line, rose almost 3% to $15 billion, AP reported.

Its full-year profit rose 6% to $60 billion, and revenue jumped 23% to 23.4 billion kroner, according to AP.

CEO Nils Anderson said the result was “satisfactory,” but there is uncertainty in 2013 due to slow growth and overcapacity in the shipping industry, AP reported.