Maersk
Shipping

What do the results of this shipping giant teach us about freight?

Aug, 02, 2022 Posted by Gabriel Malheiros

Week 202231

Container shipping giant Moller Maersk raised its earnings forecast for the second time this year after congestion on commercial lanes and ports drove up global freight rates, creating an “exceptional market” for shipping companies.

The Copenhagen-based company said on Tuesday that underlies earnings before interest and taxes will be around $31 billion in 2022. That compares with a previous forecast of about $24 billion and an average estimate of $28.4 billion in a Bloomberg survey of analysts.

Maersk, which controls about a sixth of the world’s container trade, and its peers have benefited from disruptions in logistics chains as a shortage of transport capacity has allowed them to charge higher prices for their services. Hapag-Lloyd, the world’s fifth-largest shipping company, on July 28, raised its profit forecast, saying average freight rates were about 80% higher in the first half of 2022.

“Congestion in global supply chains, leading to higher freight rates, has continued for longer than initially anticipated,” said Maersk. “The strong result is driven by the continuation of the exceptional market situation.”

These were some of the other highlights of the Maersk press release:

  • EBITDA will be around $37 billion in 2022, up from around $30 billion.
  • Free cash flow in 2022 will exceed $24 billion, up from the previous forecast of more than $19 billion.
  • Preliminary second-quarter revenue was $21.7 billion.

Source: Bloomberg Línea

To read the full original article, please go to: https://www.bloomberglinea.com.br/2022/08/02/o-que-os-resultados-dessa-gigante-de-conteineres-dizem-sobre-os-precos-do-frete/

Sharing is caring!

Leave a Reply

Your email address will not be published.