Maersk lifts profit forecast again as Hormuz disruption helps drive earnings
- Maersk has raised its full-year profit guidance for the second time in three months and now expects underlying ebitda of $10.5bn-$12.5bn and ebit of $4.5bn-$6.5bn
- Second-quarter revenue rose 20% to $15.8bn as the Ocean segment swung to a $935m profit, driven by strong Asian exports, a 22% rise in average freight rates and vessel utilisation at 96%
- Disruption in the Strait of Hormuz forced cargo rerouting and capacity redeployment, while port congestion in Europe, the Middle East, South America and West Africa kept freight rates elevated
Maersk’s Ocean business benefited from a 22% rise in average freight rates and consistently high vessel utilisation, while loaded volumes increased 4.1%.
