Maersk raises profit target by $2 billion

By Agence France-Presse

Aug 03, 2024 12:14 am

COPENHAGEN — Danish shipping giant Maersk said on Thursday it expects its underlying profit in 2024 to be $2 billion higher than its previous forecast as freight rates have increased amid the crisis in the Red Sea.

Months of 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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