Maersk Raises Guidance as Overcapacity Issues Persist
Provided by
Dow Jones
By Ed Frankl
A.P. Moeller-Maersk expects overcapacity challenges that are plaguing the industry to continue potentially for the rest of the year, as it reported a sharp drop in earnings.
However, the Danish shipping giant raised the lower end of its full-year guidance, as a result of the robust container market and after strong volumes and tightened rates in the first quarter amid Red Sea traffic disruptions.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
May 02, 2024 02:41 ET (06:41 GMT)
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