Maersk Lifts 2019 Profit Forecast; Shares Rise

Maritime Activity Reports, Inc.

October 21, 2019

Photo: Maersk

Photo: Maersk

Danish shipping company A.P. Moller-Maersk adjusted its expectations for its 2019 profit upwards on Monday following lower fuel prices and capacity management in the third quarter.

Maersk said it expects earnings before interest, taxes, depreciation and amortisation (EBITDA) in the range of $5.4 to $5.8 billion, up from its previous expectation of around $5 billion.

The rest of the guidance was unchanged, Maersk said.

Maersk shares rose 6.1% on the news to trade at 8,460 Danish crowns each at 1404 GMT.

The upgrade was driven by "strong reliability and capacity management combined with lower fuel prices" and better margins in its terminal and towage business, Maersk said.

(Reporting by Jacob Gronholt-Pedersen; editing by David Evans)

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News