Economic news
Maersk raises 2024 guidance on strong demand, Red Sea disruptions
2024.06.03 14:52
(Reuters) -Danish shipping group AP Moeller-Maersk on Monday raised its full-year profit guidance for the second time in a month on the back of strong container market demand and disruptions caused by the crisis in the Red Sea.
Maersk now expects its underlying earnings before interest, tax, depreciation and amortisation in the range of $7 billion to $9 billion.
The shipping group said it now sees signs of further port congestions, especially in Asia and the Middle East, and additional increase in container freight rates.
Maersk had raised its full-year profit guidance last month when it reported first-quarter earnings, citing strong demand and higher freight rates as ships sailed longer to avoid conflict in the Red Sea.
