A.P. Moeller-Maersk A/S climbed to an 18-month high after the company raised the earnings forecast for its container line, which almost doubled profit as lower fuel prices and costs offset falling freight rates.
Maersk Line, the world’s biggest container shipping company, will stop using the Panama Canal to transport goods from Asia to the U.S. East Coast as bigger ships help the company move them profitably through Suez Canal.
A.P. Moeller-Maersk A/S, owner of the world’s biggest container-shipping company, plans to add more vessels to its Singapore base after making the city-state its biggest hub after the headquarters in Denmark.
Demand growth in the container- shipping industry probably won’t return to pre-crisis levels in the coming years as the pace of globalization slows, the head of Maersk Line’s North European operations said.