Shares of A.P. Moeller-Maersk A/S, the world's biggest shipping company, rose the most in three months after two Japanese competitors said freight rates will rise.
Nippon Yusen K.K. and Kawasaki Kisen Kaisha Ltd., Japan's largest and third-largest shipping lines, said today that earnings will gain on increased demand for transport to and from China and higher freight rates. Greater competition lowered container freight rates last year, causing Maersk Line to post a record 3.4 billion kroner ($620 million) loss.
Maersk B-class shares rose 1,400 kroner, or 2.3 percent, to close at 62,800 kroner in Copenhagen. The shares have advanced 18 percent this year.
If the Japanese shipping lines are correct in their optimistic tone, it's good news for Maersk,'' Michael Nielsen, an analyst with Silkeborg, Denmark-based Jyske Bank A/S, said. The stock market seems to believe that they are.''
Maersk said earlier today it will start a route between China and Spain to meet increased demand.
There's no doubt that freight rates from Asia to Europe will rise this year from the low levels seen in 2006,'' Nielsen said.
Average global freight rates may not advance because a slowdown in the U.S. economy will lower charges to and from North America, said Nielsen, who rates Maersk shares reduce.''
Nippon Yusen K.K. and Kawasaki Kisen Kaisha Ltd., Japan's largest and third-largest shipping lines, said today that earnings will gain on increased demand for transport to and from China and higher freight rates. Greater competition lowered container freight rates last year, causing Maersk Line to post a record 3.4 billion kroner ($620 million) loss.
Maersk B-class shares rose 1,400 kroner, or 2.3 percent, to close at 62,800 kroner in Copenhagen. The shares have advanced 18 percent this year.
If the Japanese shipping lines are correct in their optimistic tone, it's good news for Maersk,'' Michael Nielsen, an analyst with Silkeborg, Denmark-based Jyske Bank A/S, said. The stock market seems to believe that they are.''
Maersk said earlier today it will start a route between China and Spain to meet increased demand.
There's no doubt that freight rates from Asia to Europe will rise this year from the low levels seen in 2006,'' Nielsen said.
Average global freight rates may not advance because a slowdown in the U.S. economy will lower charges to and from North America, said Nielsen, who rates Maersk shares reduce.''