Maersk sees calmer waters ahead

Danish shipping and oil group AP Moller-Maersk raised its earnings forecast after a strong third quarter yesterday, pointing to an upturn in the container shipping market that should augur well for the global economy. Revenues at Maersk Line, the world’s biggest container shipping business, fell to $6.78bn (£4.2bn), hit by a 12 per cent year-on-year drop in freight rates. But net profit rose 11 per cent to $554m, beating forecasts.