AP Moller-Maersk has hiked its earnings guidance for 2024 by $3bn as it benefits from a combination of rising demand, continued Red Sea disruption and port congestion.
The Copenhagen-listed liner operator also projected that it would end the year with positive cash flow.
The announcement marked a stunning turnaround just a month after the company’s full-year expectations disappointed analysts and it predicted that it would end the year with a $2bn cash flow deficit.
