$SamuderaShipping (S56.SG)$$A.P. Moller - Maersk A/S Unspons...

Maersk (Maersk) announced an upgrade to its 2024 full-year guidance on Monday following a strong third-quarter performance.

The news boosted shares of ZIM Integrated Shipping Services by over 8%.

The company attributed its strong results to robust container market demand.

On the back of strong third-quarter results combined with strong container market demand and the continuation of the Red Sea situation, Maersk raised its full-year 2024 forecast.

The company's improved outlook is bolstered by a revised global container market volume growth forecast, now expected to rise around 6% for the year, up from the previously estimated range of 4-6%.

The company's strong performance has sparked optimism across the shipping industry, with ZIM Integrated Shipping Services shares seemingly benefiting from the upward momentum.

With global container volumes picking up and Maersk signaling improved profitability, market sentiment for the sector is turning positive ahead of the peak holiday season.