Maersk shares rose as much as 3.7% in Copenhagen at the open on Tuesday.
A.P. Moller-Maersk A/S, a bellwether for global trade, said the world’s supply lines are more impacted than previously expected by the ripple effects coming from the congestion in the Red Sea.
Maersk said on Monday that it also sees signs of further port congestion, especially in Asia and the Middle East, which is causing rates to soar. In addition, demand in the container market has continued to be “strong,” the company said. What Bloomberg Intelligence Says: “Earnings expectations will need to move higher for Maersk and the broader liner market amid a surge in freight rates from increased port congestion and an earlier start to peak demand from the dislocation created by the Red Sea crisis. Strong pricing will remain as long as ships can’t safely traverse the Suez Canal.
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