The global shipping industry looks to be in good shape, according to the largest container shipping company in the world by revenue, with the sector rebounding strongly from a deep economic slump and shrugging off new concerns regarding Russian sanctions.
Danish shipping and oil group Moller-Maersk reported forecast-beating net profit for its second quarter and said demand for container transportation is set to grow, enabling it to raise its guidance for the year. Container shipping volume also increased by 6.6 percent in the quarter compared to the same period last year, which was "very respectable indeed", according to Robert Johnson, an analyst at Macquarie Securities.
"It is a bellwether for global trade to a large extent, simply by virtue of its status as the world's largest container shipping line," he told CNBC via email.
Second-quarter net profit of $2.25 billion for Moller-Maersk beat expectations of $2.21 billion for the period. The firm's shipping unit, called Maersk Line, also performed better than expected. The company raised its 2014 group underlying profit guidance to $4.5 billion from a previous figure of $4.0 billion.