COPENHAGEN (Reuters) -Shipping company Maersk said on Thursday it saw strong demand in the third quarter especially driven by exports out of China and Southeast Asia while the global supply chain continued to be upset by the situation in the Middle East.
Maersk also confirmed robust preliminary third-quarter earnings released on Oct. 21, when it also raised its full-year forecasts on the back of its profit, solid demand and the continuing disruption to shipping in the Red Sea.
“Container trade remained strong in Q3. Demand is estimated to have grown 4-6% year-over-year. Exports out of China and Southeast Asia make a very large portion of such growth,” the Danish company said in a statement.
Maersk, viewed as a barometer of world trade, said China’s economy continues to be marked by manufacturing overcapacity and a reliance on export-driven growth, while domestic demand and consumer confidence remain subdued.
(Reporting by Stine Jacobsen, editing by Terje Solsvik)