Copenhagen, Denmark-based Damco, a unit of the A.P. Moller-Maersk Group, had net revenues of $738 million in the first quarter of the year, according to a company news release.
Volumes also rose for Damco in the first quarter. Ocean volumes were 6% higher than in the first quarter of 2011. Airfreight tonnage more than doubled, largely due to the company’s purchased of Chinese air freight forwarder NTS in August 2011.