Ocean carriers boost profit expectations as congestion, demand raise rates

[Source: Supply Chain Dive] — The ocean freight market is pushing cargo owners to the limits in terms of time and price. But the timeline for when the market will cool remains uncertain as stakeholders expect demand to continue at pace through the end of the year.

Last week, Maersk acknowledged as much when it upgraded its guidance for the remainder of the year to show its expectations for EBITDA to reach $18 billion to $19.5 billion, an increase of nearly $5 billion over previous expectations.

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