Reported 4 months ago
A.P. Moller-Maersk A/S announced that disruptions in the Red Sea are having a more significant impact on global supply lines than previously anticipated, leading to increased freight rates and an improved profit outlook. The company has raised its profit forecast as the disruptions, causing congestion and diverting ships away from the Suez Canal, are expected to strengthen its financial performance in the second half of 2024. Maersk also highlighted escalating port congestion in Asia and the Middle East, contributing to soaring rates, with market demand remaining strong.
Source: YAHOO