|
|
|
|
|
|
|
International Cooperation Department
Tel.: (+86-21) 65853850-8034
Fax: (+86-21) 65373125
E-mail: ICDept@sisi-smu.org
|
|
|
|
|
International Shipping |
|
| Maersk again raised its full-year 2024 earnings forecast! |
|
Date:2024-08-05 Readers:
|
Maersk has raised its earnings expectations for the full year 2024. According to the latest news, Maersk has now raised its earnings before interest, tax, depreciation and amortisation (EBITDA) expectations for the year to between $9bn and $11bn, and earnings before interest and tax (EBIT) in the range of $3bn to $5bn, compared to previous expectations of $7-$9bn and $1-$3bn, respectively.
According to Maersk's report, unaudited revenue for the second quarter of this year was $12.8bn and earnings before interest, tax, depreciation and amortisation (EBITDA) was $2.1bn. Maersk said it raised its full-year 2024 earnings forecast due to ongoing supply chain disruptions caused by the situation in the Red Sea, which is expected to last at least until the end of 2024, coupled with strong demand in the container shipping market.
According to an analysis by shipping consultancy Drewry, the main factor driving the shipping company's revenue growth was the rise in freight rates in recent months, particularly in the second quarter, as a result of the Red Sea crisis. During the second quarter, the vast majority of shipping companies sailed around the Cape of Good Hope in Africa. At the same time, the traditional peak shipping season arrived earlier than usual, leading to congestion and significant vessel delays in many of the world's major ports. This caused a shortage of capacity in the global fleet and a significant increase in freight rates during the second quarter.
According to Maersk Group, the global container shipping market is now expected to grow by 4-6 per cent in terms of traffic in 2024, up from previous expectations of 2.5 to 4.5 per cent. However, Maersk added that the market remains unpredictable due to the situation in the Red Sea.
Hapag-Lloyd, Maersk's partner in the Gemini Partnership Programme, which comes into effect in February next year, has also recently raised its earnings expectations, and the company now expects its earnings before interest, taxes, depreciation and amortisation (EBITDA) to be revised upwards to €3.2 - €4.2 billion in 2024, up from €2.0 - €3.0 billion. Singapore-based Ocean Net Link Shipping (ONE) also raised its earnings expectations on Wednesday.ONE expects a profit of $2.7bn, a significant upward revision from its previous forecast of $1bn.Among other things, Merchant Marine Mitsui Shipbuilding has also raised its FY2024 earnings expectations, projecting an upward revision of its consolidated operating income to JPY1,815bn; an upward revision of its operating profit to JPY156bn; an upward revision of its recurring profit to 350 billion yen; net income attributable to owners of the parent company to 335 billion yen. One of them, Nippon Yusen Kaisha (NYK), is raising its full-year performance expectations, and NYK expects to post better financial results in the next financial year, which ends in March next year.
https://www.cnss.com.cn/html/hyqy/20240805/354260.html
|
|
Back:
MOL Picks Dynamic Voyage Optimization Tech to Cut GHG Emissions
Next:
August's latest global liner capacity ranking! MSC is riding high, while Duffy and Starfish are jumping up!
|
|
|
|
|
|
|
