Maersk raises outlook on container unit rebound

Rebounding container rates drove A.P. Moller-Maersk's operating profit above forecasts in the third quarter and the Danish oil and shipping group upped its full-year outlook, Reuters reports.

Chief Executive Nils Smedegaard Andersen cautioned rates could reverse for container division Maersk Line, which returned to profit in the previous quarter after four successive periods of losses.

"I think one should be careful expecting that this is now very stable," chief executive Nils Smedegaard Andersen told reporters. "It does not mean there is no chance of a relapse for prices on some routes."

The container unit, a barometer of world trade as its fleet carries more than 15 percent of all seaborne containers, has struggled with profitability due to the global economic slowdown and an oversupply of vessels.

Maersk Line successfully managed to implement rate hikes in the third quarter along with rivals, but spot rates on the crucial Asia to Europe route were easing again this week, worrying some analysts.

"The profits are not sustainable for Maersk Line,"