Hopeful news for investors in Maersk on Tuesday (October 13); less so for thousands of its workers.
The world’s biggest container shipping line says demand is recovering faster than expected.
Maersk now expects full-year earnings of up to 8 billion dollars before assorted costs.
That’s up from earlier forecasts, which went no higher than 7 billion dollars.
Though cargo volumes are still down on last year, the firm says it’s bounced back fast from a slump in the first half of the year.
Chief executive Soren Skou says it’s on track to deliver growth across all its businesses.
The news may cheer economists, with Maersk seen as a bellwether for global trade.
It handles around one in five of all containers shipped worldwide.
But the Danish company is pressing ahead with a major reorganisation announced last month.
That will see 2,000 jobs go as it tries to integrate seaborne and inland freight operations.
The company expects the restructuring to cost it about 100 million dollars in the third quarter.
Maersk shares rose around 1.5 percent in early trade Tuesday.