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.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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