The global offshore industry continues to benefit from soaring freight rates due to continued supply chain disruptions.
On Tuesday, following three hikes in 2021, the world's second largest container shipping group Maersk (AP Møller-Maersk), raised its annual profit expectations for the third time this year.
Previously, the Danish shipping giant released second-quarter performance data a day earlier than expected, with revenue up 350% year-on-year to US$21.7 billion, and basic operating profit more than doubled to US$8.9 billion.
Maersk said it expects its profit in 2022 to be about a quarter higher than expected, and it is expected that the time it will take to "normalize" freight rates to "normalize".
The group said that the possibility of "gradual normalization" of freight is increasing, but the time is not as expected in the middle of the year, but in the fourth quarter.
In the past year, Mediterranean Shipping Company has surpassed Maersk to become the world's largest container shipping company, but Maersk is still the most profitable company in the industry, and because it is a listed shipping company, it is also the most eye-catching.
After both shipping companies' earnings and stock returns soared last year, shareholder returns of listed shipping companies returned to normal in 2022.
Although Maersk's stock price fell 18% in the first half of this year, it was mainly affected by the drag of market . During the same period, the Danish C25 (the index of the 25 Danish companies with the largest trading volume on the Danish Stock Exchange) fell 20.1%, and the US S&P 500 index fell 21.1%.
In the past month, Maersk stock price rose 23.94% and closed up 1.43% on Tuesday.
This article comes from Wall Street News, welcome to download the APP to view more
