A.P. Moeller-Maersk (Maersk), the largest container shipping line in the world by market share, has become Denmark’s second most valuable brand, taking over Arla and Dankse Bank and closing the gap on first place LEGO.
According to Brand Finance’s annual report on the most valuable Nordic brands, Maersk has grown by 45.2% and has a brand worth of approximately US$4.2 billion.
The report credits Maersk’s jump in brand value to “seismic changes” to the carrier’s operations. These have included the acquisition and successful integration of German carrier Hamburg Sud.
This means that Maersk continues to have more ocean shipping capacity than any other carrier and, in the words of Brand Finance, is a “genuine global leader for Denmark.”
Additionally, its earnings have increased substantially over the last year as it benefitted from lower container handling costs.
In August 2019 it posted a second-quarter increase in earnings before interest, tax, depreciation and amortization (EBITDA) of 17%.
Furthermore, it has been leading the way in developing environmentally-friendly biofuels and oversaw the cooking oil-powered voyage of the Mette Maersk from the Port of Rotterdam in April 2019.
Despite its increasing value, Maersk has not made it onto the list for the 50 most valuable Nordic brands, which remains dominated by Swedish companies and is led by IKEA.