SHIPPING line Maersk says its Liverpool-based UK arm saw a difficult first half as increased volumes were offset by fuel costs and by increased competition.

Danish group A.P. Moller Maersk reported first-half revenues of £18bn – up 9% on the same period in 2010.

Pre-tax profits soared 27% to £3.7bn.

The group says the sales boost was due to rising oil prices and a rise in container volumes, while profits were boosted by the sale of its Netto superstores in the UK.

But the group warned that because there are now more ships sailing the world’s oceans, container shipping rates are under pressure, meaning there are still tough times ahead.

Brian Godsafe, managing director at Maersk Line UK, said: “These results are good for the Maersk group but market conditions remain very challenging and the increased revenue for the period is mainly the result of raised oil prices and increased container volumes.

“Here in Liverpool the first half of the year has been difficult. Although container volumes have been increasing, this has been offset by increased capacity which has driven rates down, and by higher bunker (fuel) prices.