Maersk Raises Outlook for Second Time This Year After Second-Quarter Profit Surge

By Stine Jacobsen

COPENHAGEN, Aug 13 (Reuters) – Danish shipping group Maersk MAERSKb.CO on Thursday smashed profit forecasts and raised its full-year earnings guidance for a second time this year as the Middle East conflict, port congestion and strong demand pushed freight rates higher.

Maersk, a bellwether for global trade given its position as the world’s second-largest container shipper, said the global container market remained on track for around 4% growth this year despite geopolitical turmoil.

Shares in the company, whose customers include Walmart, Target and Nike, rose 8% at market open.

“Maersk