Shipping giant Maersk hikes full-year outlook after strong second-quarter By Reuters

© Reuters. FILE PHOTO: Cellular cranes put together to stack containers at Thar Dry Port in Sanand within the western state of Gujarat, India, February 10, 2016. REUTERS/Amit Dave

COPENHAGEN (Reuters) – Danish delivery group A.P. Moller-Maersk on Monday considerably hiked its outlook for the 12 months after posting sturdy preliminary outcomes as chaotic circumstances within the world provide chain have pushed freight charges up.

“The sturdy quarterly efficiency is especially pushed by the continuation of the distinctive market state of affairs with sturdy rebound in demand inflicting bottlenecks within the provide chains and gear scarcity,” Maersk mentioned in a press release.

Maersk now forecasts full-year underlying earnings earlier than curiosity and taxes (EBIT) within the vary of $14 billion-15.5 billion, up from a earlier estimate of between $9 billion-11 billion.

The corporate additionally posted preliminary second-quarter income of $14.2 billion and EBIT of $4.1 billion.

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