Maersk lifts 2024 guidance by $3B

By Agence France-Presse

Jun 05, 2024 12:24 am

COPENHAGEN — Danish shipping giant Maersk on Monday said it expected its profits in 2024 to be $3 billion higher than previous projections as freight rates have increased amid the crisis in the Red Sea.

Months of Houthi attacks by Yemen's Iran-backed Houthis have prompted some shipping companies to detour around Southern Africa to avoid the Red Sea route which normally carries about 12 percent of global trade.

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