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Hapag-Lloyd ups outlook

Hapag-Lloyd ups outlook

Hapag-Lloyd raised its full-year earnings forecast for the third time this year, projecting operating profit (EBIT) of $2 billion to $2.4 billion, up from its previous range of $1.25 billion to $1.75 billion. It also raised its EBITDA forecast to $4.6 billion–$5 billion. The increase was driven by higher freight rates and better-than-expected performance amid supply-chain disruptions, ships being rerouted away from the Red Sea, congestion at Asian ports, and restrictions on the Panama Canal. Shares rose as much as 6.8%.

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