Danish container line AP Moller-Maersk has hiked its annual profit forecast as the cash continues to roll in.
In a trading update, the shipowner revealed the first quarter had outdone expectations, with underlying Ebitda of $9.2bn from revenue of $19.3bn.
“The strong result is driven by the continuation of the exceptional market situation…which has led to a 7% decline in volumes and an average 71% increase in freight rates compared to Q1 2021,” Maersk said.
