AP Moller – Maersk is the latest container line to revise its projection for 2021, citing strong demand, supply chain constraints, and equipment shortages as reasons.

Maersk increased its full-year profit prediction to reach between US$18 billion to US$19.5 billion, up from the US$13 billion to US$15 billion earlier. Its EBIT forecast was also raised to between US$14 billion to US$15.5 billion, from its expectations of US$9 billion to US$11 billion previously.

“The exceptional market situation still expected to continue at least until the end of the full-year 2021,” the Danish line said as it raised its forecast.

Volumes grew 15% year over year in the second quarter of 2021, while average rates increased 59% over the same quarter the previous year.

Maersk also reported US$5.1 billion in EBITDA and US$4.1 billion in EBIT in the second quarter of 2021.

“The strong quarterly performance is mainly driven by the continuation of the exceptional market situation with strong rebound in demand causing bottlenecks in the supply chains and equipment shortage,” the line said.

In the second half of the year, demand is predicted to continue to increase. 

Maersk noted that the “outlook for the global market demand growth for the full-year 2021 has been revised up to 6% to 8% from previously 5% to 7%, primarily still driven by the export volumes out of China to the US.”

Maersk plans to beat the second quarter's earnings in the third quarter of 2021.