Global supply-chain disruptions are keeping the good times rolling for container shipping companies. But if the global economy continues to worsen, customers may start pushing harder to renegotiate contracts—meaning still-rosy earnings expectations could need to be cut.
Danish container-ship company A.P. Moller-Maersk which moves 17% of the world’s shipping containers and is a bellwether for global trade, reported its 15th straight quarter of earnings growth on Wednesday. It raised its profit forecast for the second time this year and now expects underlying earnings before interest and tax will be around $31 billion in 2022. Smaller peer Hapag-Lloyd AG the world’s fifth-largest shipping line, also raised its profit forecast last week.