Maersk keeps upbeat guidance despite sharp drop in volumes

Strong results: The Maersk Yukon vessel is seen at the Yangshan Deepwater Port in Shanghai. Maersk, which handles one in every five containers shipped by sea worldwide, posted second-quarter revenue and earnings above expectations. — Bloomberg

COPENHAGEN: Maersk has reinstated full-year guidance above its forecast at the beginning of the year, even as the shipping group expects demand for moving containers at sea to remain below normal levels in the third quarter.

Maersk, which handles one in every five containers shipped by sea worldwide, posted second-quarter revenue and earnings above expectations, as a sharp drop in volumes was partly offset by higher freight rates, lower fuel prices and lower costs in the quarter.