German tonnage provider Ernst Russ expects a €21m ($23.2m) boost to profits from the surging container market.

The Hamburg-based company forecast an operating result of between €62m and €67m for the 2022 financial year, up from an estimate of €41m to €46m in December.

It also upgraded its revenues expectation this year to between €160m and €170m, up from the previous estimate of €140m to €145m.