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COSCO SHIP HOLD Once Spikes ~3% after Maersk Raises Guidance for 2024 Results
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Danish shipping group Maersk raised its guidance for 2024 results, mainly on its strong 3Q24 results, robust demand and continued disruptions to the Red Sea shipping industry. Buoyed by the news, COSCO SHIP HOLD (01919.HK) spiked as much as 2.9% once to peak at $12 today (22nd), and last added 1.89% at $11.88, with turnover of $153 million. OOIL (00316.HK) also leaped 2.4% to peak at $109.7, and last stood at $109.5, up 2.24%, with turnover of $32.6532 million. Maersk's preliminary underlying EBITDA for 3Q24 was US$4.8 billion, higher than the market expectation of US$3.7 billion; revenue was US$15.8 billion, exceeding the forecast of US$14.4 billion. The group revised its forecast for global container market throughput growth this year from the previous 4%-6% to about 6%. The full-year underlying EBITDA was expected to be US$11-11.5 billion, higher than the previous forecast of US$9-11 billion. AAStocks Financial News |
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