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.
A.P. Moeller-Maersk A/S raised the earnings forecast for its container-shipping line, the world’s largest, after second-quarter profit at the unit almost doubled as lower fuel prices and costs offset a drop in 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.