Maersk raises outlook again as strong demand, freight rates lift profit
Danish shipping group Maersk on Thursday raised its full-year earnings guidance for a second time this year and smashed profit forecasts as global container demand proved resilient in the face of the ...
Maersk, the Danish shipping conglomerate, boosted its full-year earnings guidance for the second consecutive time in 2023, surpassing profit expectations despite the geopolitical tensions in the Middle East. The company's second-quarter profit before accounting for interest, taxes, depreciation, and amortisation (EBITDA) reached $3.0 billion, significantly higher than the median forecast of $2.12 billion.
This surge in earnings was primarily driven by surging freight rates and strong demand, as global container trade continued to exceed expectations. However, Maersk remains cautious about the ongoing conflict in the Middle East, which is driving up operating costs for the company's Ocean division.
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