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Maersk upbeat on container shipping outlook

Shares up by as much as 4.5 per cent; Danish line faces cyber attack bill of US$200-US$300 million

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CEO Soren Skou said the container shipping industry is showing signs of recovery this year as freight rates have picked up, while overcapacity is easing as orders for new vessels fall and existing ones are scrapped.

Copenhagen

DENMARK'S AP Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by as much as 4.5 per cent as investors looked beyond one-off second-quarter charges and a costly cyber attack on its operations.

Maersk has been hit by low oil

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