#shipping

Rolling coverage of the latest economic and financial news Climate campaigners attack Shell over ‘windfall’ profits from Iran war The Danish shipping giant Maersk has maintained its profit guidance for the year, even as it reported a spike in fuel costs and warned that traffic through the strait of Hormuz “remains at a near standstill”. The company, which transports goods around the world via sea, road, rail and air, said demand for shipping containers remained strong, but that war in the Middle East was ramping up costs. “The reopening of the strait of Hormuz, whether it happens in the days to come or the months to come, will have limited impact on cargo flows. What really are the most important factors to consider: first is our ability to mitigate the cost increases we have been suddenly faced with. And I would say so far we have been successful with both our cost measures and the revenue, the commercial measures that we have put in place to mitigate the impact of these increases t