Denmark's Maersk Broker has posted its smallest annual earnings for four years, but 2021 should be stronger.

The Maersk family-controlled shipbroker said 2020 ended with a net profit of DKK 37.4m ($6.1m), down nearly DKK 6m from 2019 and the lowest figure since 2016. Revenue dropped DKK 50m to DKK 345m.

In its annual report, the company said the 2021 result before financial items is expected to be higher than 2020 to the tune of between DKK 50m and DKK 70m.