A.P. Moeller-Maersk A/S (MAERSKB), owner of the world’s largest container line, rose the most in more than two weeks in Copenhagen trading after Goldman Sachs Group Inc. said investors should buy the stock as cost cuts boost profits.
Maersk Line reported last month rising profits and said 2013 net income will be “significantly above” that of 2012, compared with a previous forecast of earnings “above” last year’s level.
Maersk Line has trimmed its fleet and slowed sailing speeds to curb capacity as falling consumer demand hurts cargo volumes and carriage prices. The shipping line cut unit costs by 12.7 percent in the second quarter as bunker costs slumped 31 percent because of lower consumption and fuel-price declines, the company reported Aug. 16.