The Ernst Russ Group has revised its earning forecast upwards for the full year, citing improved market conditions for its 31 container ships.

The Frankfurt and Hamburg-listed company said on Thursday it expects full-year 2023 group revenue to come in between €190m ($207m) and €210m and operating Ebit earnings at between €70m and €90m.

Ernst Russ’ new revenue forecast is €10m over the previous one made by the company in March.