Maersk raises its performance guidance for the third time!

Strong demand in Europe and the United States! Maersk raises its performance guidance for the third time! ONE is expected to double!

On August 1, the global shipping giant Maersk released its preliminary second-quarter performance report.
​

Preliminary data showed that Maersk's unaudited revenue in the second quarter of 2024 was US$12.8 billion, basic EBITDA was US$2.1 billion, and basic EBIT was US$756 million
(reported EBIT was US$963 million)

We hve Corn Gluten Feed 18%；Corn Gluten Meal 60%;DDGS 26%;
 Dicalcium Phospahte 18%;Mono Dicalcium phosphate 21%;Mono Calcium Phopshate 22%......

As the global shipping disruption caused by the Red Sea conflict will last longer than expected, Maersk currently expects it to last at least until the end of 2024, coupled with
strong demand in the container market, Maersk has once again raised its full-year guidance for 2024.

Maersk now expects basic EBITDA to be between US$9 billion and US$11 billion, EBIT to be between US$3 billion and US$5 billion (previously expected to be US$7 billion to
US$9 billion and US$1 billion to US$3 billion, respectively), and free cash flow of at least US$2 billion (previously at least US$1 billion). The forecast for global container market sales growth in
2024 was also raised to 4%-6% (previously 2.5%-4.5%).

Maersk said that given the unpredictability of the Red Sea situation and the uncertainty of supply and demand in the fourth quarter, market volatility remains higher than normal.

ONE, the world's sixth largest shipping company, also recently announced its financial results for the first quarter of fiscal year 2024 (April-June).

Data showed that ONE's revenue in the first quarter of fiscal year 2024 was US$4.211 billion, a year-on-year increase of 12%, and a net profit of US$779 million.

ONE said that freight volumes have improved due to increased consumer spending in North America and Europe. Although the delivery of new ships has led to an oversupply of capacity, the long-term diversion of the Cape of Good Hope has led to a reversal of the oversupply. As a result, due to tight supply and increased demand, spot freight rates on multiple trade routes, including Asia-North America and Asia-Europe, have increased compared with the fourth quarter of fiscal year 2023.

At the same time, ONE also raised its full-year performance expectations for 2024. ONE raised its full-year net profit forecast for fiscal 2024 to $2.745 billion from $1 billion announced on April 30.

ONE CEO Jeremy Nixon said that the outlook is very uncertain, especially for the second quarter and beyond. In addition, it will take some time for the situation in the Middle East to normalize.