damco

The past few years have been particularly hard for Damco.

Its move from Copenhagen to The Hague in February 2013 was a disaster. It went from profit to a net loss of $111m that year, partly attributed to one-off relocation costs, which widened in 2014, spiraling to -$293m, and parent Maersk admitted that the forwarder had “lost its way”.

Damco financials 2014

Damco financials 2015

source: APMM

Damco’s plan to be “closer to its customer base” backfired badly when several key account executives ...

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