Maersk raises guidance on strong container market demand

Investing.com -- A.P. Møller - Maersk announced an upgrade to its 2024 full-year guidance on Monday following a strong third-quarter performance.Based on preliminary figures for Q3 2024, Maersk reported revenue of $15.8 billion, with underlying EBITDA at $4.8 billion and EBIT at $3.3 billion.On the back of strong third-quarter results combined with strong container market demand and the continuation of the Red Sea situation, Maersk raised its full-year 2024 forecast.

Additionally, EBIT guidance has been raised to $5.2 billion to $5.7 billion, compared to the previous forecast of $3 billion to $5 billion. The company's improved outlook is bolstered by a revised global container market volume growth forecast, now expected to rise around 6% for the year, up from the previously estimated range of 4-6%.The company's strong performance has sparked optimism across the shipping industry, with ZIM Integrated Shipping Services shares seemingly benefiting from the upward momentum.

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