Maersk ranked as fastest growing logistics brand

The Danish container shipping company has set its sights on being an integrator for the container sector investing heavily in the logistics sector, while losing its top spot as the world’s largest container line to rapidly growing Mediterranean Shipping Co (MSC).

The Brand Finance Logistics rankings for 2023 said that Maersk had achieved 53% year-on-year brand growth taking it to a value of $7.4 billion. “Maersk has now more-than doubled (up 121%) in brand value from its pre-pandemic level,” Brand Finance said.

The next fastest growing logistics brands were Door Dash up 39%, and fellow container shipping line CMA CGM with an 18% growth of its logistics brand value.

Growth in the logistics space for Maersk has included the acquisition of LF Logistics in Asia as well as growing its air cargo business with the launch of Maersk Air Cargo, which has a fleet of 21 aircraft and one on order.

The ranking noted that Maersk’s logistics business had achieved record revenues with continued growth forecast. In 2022 Maersk booked logistic revenues of $14.4 billion up from $9.83 billion in the previous year.

However, revenues from logistics were dwarfed by its ocean shipping business which reported revenues of $56.5 billion in 2022 up from $42.4 billion in 2021. Maersk has been cutting the size of its container shipping fleet selling vessels and ending charters and according to analyst Alphaliner it reduced its liner capacity by 2.1% to 4.14 million teu between January and July this year.

Related:How far is Maersk on its journey to become an integrator?

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Overall Brand Finance ranked Maersk as the eighth most valuable logistics brand globally at a value of $7.1 billion. Top the league table for logistics brand value, despite an 8% drop over the previous year, was air express giant UPS with brand value of $35.4 billion.