Peaking container rates bode well for Maersk

When Maersk on Wednesday presents its results for the third quarter, the operating profit (EBITDA) will show an increase, projects investment bank Jefferies. Container rates have reached the highest level since 2014.

Photo: Maersk Line

Maersk's key numbers will look better when the figures for the container business are made public in Wednesday's third quarter interim report, writes investment bank Jefferies in an update ahead of the Maersk results after Germany's Hapag-Lloyd and Japanese ONE were first out of the gate with results for the latest quarter.

According to Jefferies, Maersk's operating profit (EBITDA) will be 14 percent higher in the the third quarter and reach DKK 1.1 billion (USD 166 million), a development attributed in particular to a 25 percent growth in volumes, with the acquisition of German Hamburg Süd playing a key role, while freight rates have also increased 7 percent. During the period, freight rates reached the highest level since 2014, writes the bank.

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