Maersk Line raises 2014 profit forecast after Q3
By: Reuters | Nov 11 2014 at 02:16 AM | Liner Shipping
Container shipping company Maersk Line, a unit of A.P. Moller-Maersk, said on Tuesday it had increased its 2014 full-year net profit forecast to above $2 billion from a previous forecast of “significantly” above $1.5 billion.
Net profit in the world’s largest container shipping company increased to $685 million in the third quarter from $554 a year ago.
“The improvement was achieved through lower costs and supported by an increase in the average freight rate,” it said in a statement.