World News
Maersk Hikes 2021 Profit Guidance
Tuesday August 3, 2021
Shipping giant AP Moller-Maersk has significantly raised its earnings expectations for the year after surging container freight rates boosted its profitability.
The company now expects its EBITDA for 2021 to reach $18-19.5 billion, it said in a statement on its website on Monday, up from previous guidance of $13-15 billion.
"The exceptional market situation [is] still expected to continue at least until the end of the full-year 2021," the company said in the statement.
"The outlook for the global market demand growth for the full-year 2021 has been revised up to 6-8% from previously 5-7%, primarily still driven by the export volumes out of China to the US."
The company is scheduled to publish second-quarter results later this week.
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| VLSFO | MGO | |||
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| $/mt | +/- | $/mt | +/- | |
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| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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