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Maersk Sees Record $31 Billion Profit as Shipping Rates Surge

  • Congestion on trade routes have boosted freight rates
  • Firm is due to publish its second-quarter report on Wednesday
Updated on

A.P. Moller Maersk A/S raised its profit forecast for this second time this year after congestion on trade lanes boosted global freight rates, creating an “exceptional market” for transport companies.

Maersk, which controls about one-sixth of the world’s container trade, and its peers have benefited from supply-line disruptions as a shortage of shipping capacity has enabled them to charge higher prices for their services. Hapag-Lloyd AG, the world’s fifth-largest shipping line, on Thursday raised its profit forecast saying average freight rates have been about 80% higher in the first half of 2022.