Latest news with #VincentClerc
Yahoo
2 days ago
- Business
- Yahoo
Maersk raises guidance on higher Q2 volumes
Maersk said second quarter container volumes were 4.2% higher from the same period a year ago, and raised its forecast for full-year earnings. A.P. Moller-Maersk A/S, parent company of the world's second-largest shipping line, reported revenue grew 2.8% in the quarter ended June 30 to $13.1 billion from $12.8 billion a year ago. Operating earnings (EBIT) fell to $845 million from $963 million. Ocean revenue rose to $8.57 billion from $8.37 billion. EBITDA was $1.44 billion from $1.41, and EBIT came in at $229 million, down from $470 million. Copenhagen-based Maersk (OTC: AMKBY) cited geopolitical uncertainty and continued rate pressure for weaker profit, but noted continued strong results in marine terminals, volume growth in ocean shipping, and increased profitability in logistics & services. It said all segments were benefiting from continued operational improvements and lower costs. Resilient market demand outside of North America led Maersk to raise its full-year 2025 financial guidance for pre-tax earnings (EBITDA) to $8 billion to $9.5 billion from $6 billion to $9 billion, and EBIT to $2 billion to $3.5 billion from unchanged to $3 billion. It left capital expenditures for 2024-2025 and 2025-2026 unchanged at $10 billion to $11 billion. Global container volume has been revised to between 2% and 4% from -1% and 4%. Disruptions in the Red Sea from renewed threats against shipping Houthi militia is expected to last through 2025. 'We have had a strong first half of the year, driven by consistent follow-through on our operational improvement plans and the successful launch of the Gemini Cooperation [with Hapag-Lloyd],' said Maersk Chief Executive Vincent Clerc, in the release 'Our new east-west network is raising the bar on reliability and setting new industry standards. It has been a key driver of increased volumes and solid delivery of our ocean business. Even with market volatility and historical uncertainty in global trade, demand remained resilient.' Ocean shipping saw volumes grew 4.2% from a year ago, mainly driven by exports out of Asia. Freight rates improved in the quarter, while still being under pressure both sequentially and compared to 2024. The Gemini tie-up that began in June saw schedule reliability above the 90% target. Find more articles by Stuart Chirls rates unmoved by latest tariff deadline Shipbuilder sued by owner, operator of ship in deadly Baltimore bridge collapse China trade fight weakens Matson earnings Panama ports sales challenge could turn into Trump win The post Maersk raises guidance on higher Q2 volumes appeared first on FreightWaves. Sign in to access your portfolio
Argaam
2 days ago
- Business
- Argaam
Maersk CEO sees Red Sea disruptions through 2025
Maersk CEO Vincent Clerc said Red Sea disruptions will likely persist through the end of 2025, impacting global supply chains and shipping flows between Asia and Europe. Speaking to CNBC today, Aug. 7, he noted that Q2 2025 global container demand surpassed forecasts, driven by a recovery in China's manufacturing and faster global export growth. He added that spot freight rates jumped 37% in Q2 as capacity utilization approached full levels, reflecting strong momentum in global trade activity. Clerc emphasized China's expanding role in the global economy but said Maersk sees no current need for new ultra-large vessels. Instead, the company is prioritizing a flexible network that reaches smaller, non-traditional ports, he said.
Yahoo
2 days ago
- Business
- Yahoo
Maersk CEO: US-China Deal Needed to Reduce Uncertainty
A. P. Moller-Maersk A/S CEO Vincent Clerc says tariff uncertainty will recede once there is a clear deal between the US and China. He speaks on Bloomberg Television as the container firm raised its financial outlook for 2025 saying demand outside North America was proving resilient even amid concerns over a trade war.
Yahoo
2 days ago
- Business
- Yahoo
Maersk boosts profit outlook as container demand defies trade fears
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Shipping group A.P. Moller-Maersk on Thursday raised its full-year profit outlook as global demand for ocean container freight showed resilience despite concerns of trade wars. Maersk, viewed as a barometer of world trade, said it now expects global container volumes to grow between 2% and 4%, compared with a range of down 1% and up 4% growth estimated in May. A contraction in U.S. imports "was more than offset" by strong growth in imports into other regions, including Europe, Maersk said in its second-quarter earnings statement. "Even with market volatility and historical uncertainty in global trade, demand remained resilient, and we've continued to respond with speed and flexibility," CEO Vincent Clerc said. Maersk now expects underlying earnings before interest, tax, depreciation and amortisation (EBITDA) this year of between $8 billion and $9.5 billion, compared with its previous guidance of between $6 billion and $9 billion. Maersk said EBITDA rose 7% year-on-year in the second quarter to $2.3 billion, compared with $1.98 billion expected by analysts. Sales rose 3% year-on-year to $13.1 billion between April and June, compared with $12.61 billion expected by analysts in a company-compiled poll.
Yahoo
2 days ago
- Business
- Yahoo
Container shipping group Maersk posts Q2 profits above forecast, raises full-year outlook
COPENHAGEN (Reuters) - Shipping group A.P. Moller-Maersk on Thursday reported second-quarter operating profit above expectations and raised its full-year profit forecast. "Even with market volatility and historical uncertainty in global trade, demand remained resilient, and we've continued to respond with speed and flexibility," CEO Vincent Clerc said in a statement. Maersk now expects underlying earnings before interest, tax, depreciation and amortisation (EBITDA) this year of between $8 billion and $9.5 billion, compared with its previous guidance of between $6 billion and $9 billion. Maersk said EBITDA rose 7% year-on-year in the second quarter to $2.3 billion, compared with $1.98 billion expected by analysts. Sales rose 3% year-on-year to $13.1 billion between April and June, compared with $12.61 billion expected by analysts in a company-compiled poll. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
