A.P. Moller-Maersk A/S, a bellwether for global trade, increased its full-year guidance for a fourth time in less than six months, citing stronger demand and higher freight rates caused by supply chain disruptions from attacks in the Red Sea.
Maersk now sees underlying earnings before interest, tax, depreciation and amortization of $11 billion to $11.5 billion this year, topping both its prior forecast range and the average $10.1 billion estimate of analysts surveyed by Bloomberg.
Maersk said earlier this month it will start its vessel-sharing partnership with Hapag-Lloyd AG in 2025 by sailing south of Africa, indicating the container lines expect the Red Sea to remain unsafe well into next year. Still, medium-term prospects for the shipping company remain somewhat gloomy. Maersk faces potential overcapacity in the container shipping market in 2025-26 and possibly longer, while there is a latent risk that the situation for container-shipping companies will worsen when the conflict in the Red Sea is resolved, Morten Holm Enggaard, an analyst at Jyske Bank A/S, said in a note.
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