Transportation

Maersk CEO: Reasons to be a little optimistic

Reuters with CNBC
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Thing have gone well in Q1: Moller-Maersk CEO

Danish shipping and oil group Moeller-Maersk reported a first-quarter net profit above analysts' forecasts, supported by higher container volumes and increased oil production.

"We've come out of the first quarter with a strong growth in our container business," Moeller Maersk CEO Nils Andersen told CNBC on Wednesday.

"Things are actually improving quite a bit because the oil prices are itching up," said Andersen. "It's not that the world has improved greatly but the oil price is moving in the right direction."

The stock reacted positively to the news and was up 5 percent in early trading.

Net profit fell to $224 million, Maersk reported, beating an average forecast of $55.6 million in a Reuters poll of analysts.

Bloomberg | Bloomberg | Getty Images

The Danish shipping giant kept its outlook for an underlying profit for the full year significantly below last year's $3.1 billion.

"We're not out of our tough times but there are some reasons to be a little more optimistic," Andersen told CNBC.

Container ships are seen at Lianyungang port on July 10, 2015 in Lianyungang, Jiangsu Province of China. During the first six months of 2015, total value of foreign trade stood at about 1857.48 billion USD (11.53 trillion RMB), down by 6.9 percent from a year earlier.
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The Maersk Alfirk container ship is unloaded at the Port of Los Angeles in San Pedro, Calif., April 8, 2014.
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