Danish shipping and logistics group AP Moller-Maersk said on Wednesday its second-quarter net profit almost tripled despite lower business and consumer activity during the coronavirus pandemic.

Net profit in the April-to-June period for continuing operations was 443 million dollars, compared to a net profit of 153 million dollars during the same period in 2019, the group said.

Operating earnings - earnings before interest, taxes, depreciation, and amortization (EBITDA) - were up 25 per cent to 1.7 billion dollars, "driven by strong cost performance across all of our businesses, lower fuel prices and higher freight rates on Ocean and increased profitability in Logistics & Services," chief executive Soren Skou said in a statement.

Revenue for the group, which includes container shipping company Maersk Line, decreased by 6.5 per cent to 9 billion dollars, year-on-year.
Maersk Line's container fleet numbered 651 vessels at the end of June, of which 346 were chartered. At the end of December, the total fleet had comprised 708 vessels.

"As a result of the lock-downs, closed borders and travel restrictions around the world, we experienced significant problems in relieving our seafarers when their contracts expired, a persistent issue of serious concern to us," Skou added.