During the first three months of this year, Maersk said corporate revenue in the ocean transport unit increased by 64%, with strong rates more than offsetting a 7% drop in volumes. Revenue in logistics was up 41%, and terminals logged their best quarter ever, registering the fifth quarter in a row of more than 30% growth. Skou attributed the strong results in part to Maersk's ability to respond strategically to the needs of clients during highly difficult international conditions. "While global supply chains remain under significant pressure, we continue to demonstrate superior ability to help customers overcome logistic challenges," he said. Freight rates remained high during the first quarter due to Covid-19 and capacity shortages that continued to disrupt the supply-side of the logistics industry. Global container demand declined by 1.2% compared to same quarter last year, while global air cargo volumes increased nearly 3%.