Shipping Giant Maersk Lifts Lower End of Earnings Guidance on Strong Demand

Danish shipping giant A.P. Moller-Maersk MAERSK.B -6.19%decrease; red down pointing triangle raised the lower end of its full-year earnings guidance as strong container demand and cost efficiencies counter falling freight rates.

Despite heightened market challenges from global trade tensions and macroeconomic uncertainty, Maersk’s main shipping business posted a 7% increase in third-quarter freight volumes, buoyed by exports from East Asia, with China the main driver of volume growth supported by strong demand for technology goods.