Maersk Profit Expectations Exceed $3.5bn

11 July 2010 (Last Updated July 11th, 2010 18:30)

Maersk has adjusted its profit expectations for 2010, with levels predicted to surpass the $3.5bn made by the shipping giant in 2008. The company has changed its stance from its projections on 4 March 2010, which originally forecasted a modest profit. The company cited favourabl

Maersk has adjusted its profit expectations for 2010, with levels predicted to surpass the $3.5bn made by the shipping giant in 2008.

The company has changed its stance from its projections on 4 March 2010, which originally forecasted a modest profit.

The company cited favourable freight rates, oil prices and the US exchange rate on top of accounting gains made from the sale of shares in the Yantian terminal in China for the upward adjustment.

This level could yet rise again, pending UK approval for Dansk Supermarked’s sale of Netto Foodstores. Possible gains from the sale have not been included in the new estimates.