AlwaysFree: Maersk Upgrades Earnings Guidance On Improving Business Environment

Danish integrated shipping company Maersk on Tuesday upgraded its 2020 EBITDA guidance, citing improving business environment. The world’s largest container line said it expected upward momentum in global freight rates and container volumes in the fourth quarter of 2020. The company now projects EBITDA of $8 billion-8.5 billion for the full year 2020, compared to $7.5 billion-8 billion EBITDA in its previous guidance. S&P Global Ratings also upgraded its outlook for Maersk from negative to positive, citing expected higher earnings due to lower bunker fuel prices and a less severe decline in global trading.