Maersk reports Q2 growth due to positive market demand and Red Sea situation, expecting continued growth for the year.
Shipping giant, Maersk, reports strong Q2 results, driven by positive market demand and the ongoing situation in the Red Sea. The company expects this situation to continue for the rest of the year and has invested in additional equipment to support customers amid disruptions. Maersk maintains a focus on organic growth and explores value-accretive acquisitions in Logistics. The company anticipates global container market growth of up to 6% for the year, despite a decrease in free cash flow. Maersk CEO, Vincent Clerc, dismisses concerns about a potential US recession, citing strong freight demand and consumer confidence as evidence of economic stability. The company raised its full-year guidance for free cash flow from $1 billion to $2 billion.