AP-Moller Maersk will purchase $500m more of its own shares annually as it continues to log record results.

The Danish liner giant company will increase the current share buyback programme from $2.5bn to $3bn for the years 2022-2025.

The plan was unveiled as the company logged another record quarter but warned that container demand forecast could be negative.

Revenues increased by 52% in the second quarter and earnings more than doubled compared to the same quarter last year.