Maersk expects underlying EBITDA of around $37 billion versus the $30 billion it forecast earlier
Maersk raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected.
“Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated,” Maersk said in a statement. The new guidance is based on a gradual normalisation in ocean container shipping in the fourth quarter of this year. Its previous guidance was based on that happening early in the second half of the year.
Electrolux, Europe’s biggest home appliances maker, last month missed second-quarter profit expectations in part due to supply chain problems, but said the supply chain situation looked better for the third and fourth quarters.Maersk, one of the world’s biggest container shippers with a market share of around 17%, said in June that the cost of shipping goods was unlikely to abate anytime soon due to array of inflationary pressures.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Car Review: 2022 BMW M4 CompetitionCar Review of 2022 BMW M4 Competition. Not subtle. Just fast. — via drivingdotca autonews carreview autoindustry roadtest luxuryvehicles
Read more »
2022-23 PREMIER LEAGUE PREVIEW: Get ready for another quirky, jam-packed seasonAfter two years of football during a global pandemic and all of the headaches that came along with it, you’d think we would be in for something a bit more…
Read more »
2022-23 Premier League Preview: Get ready for another quirky, jam-packed seasonEuropean leagues will now take a mid\u002Dseason month\u002Dand\u002Da\u002Dhalf break for the 2022 World Cup in Qatar.
Read more »
Here are the 14 people appointed to Order of B.C. in 2022Fourteen outstanding British Columbians are receiving the highest recognition available in the province on B.C.
Read more »
Dismantling The Woke Infrastructure – Legal Insurrection Summer 2022 FundraiserWe are at an inflection point in a battle to save the nation. We need to begin dismantling the woke infrastructure, particularly in education. Join us in this fight.
Read more »
Car Review: 2022 BMW M4 CompetitionCar Review of 2022 BMW M4 Competition. Not subtle. Just fast. — via drivingdotca autonews carreview autoindustry roadtest luxuryvehicles
Read more »