AP Moller-Maersk reported another record profit in the third quarter — its 16th consecutive quarter with year-on-year earnings growth.

The Copenhagen-based liner giant also maintained its own profit and capex forecasts for the year unchanged at underlying Ebitda of about $37bn, underlying Ebit of around $31bn and free cash flow above $24bn.

Maersk, however, acknowledged that the overall market is slowing amid recession and inflation fears and now projects global container demand to drop between 2% and 4% this year.