Maersk, the global shipping company, raised its full-year profit forecasts yesterday amid strong demand for container shipping across oceans, which outweighed concerns about the impact of trade disputes. However, the company warned that demand is likely to decline in the second half of the year.

Maersk, regarded as a barometer of global trade, now expects container shipping volumes worldwide to increase by between 2% and 4% this year, compared to a range of 1% to 4% in its May forecast. The new range accounts for slower growth in the second half of the year.

In its second-quarter earnings statement, Maersk said the contraction in U.S. imports was “more than offset” by strong import growth in other regions, including Europe.

Maersk’s CEO, Vincent Clerc, said: “Despite market volatility and historic uncertainty in global trade, demand remained robust, and we continued to respond quickly and flexibly.”

Maersk shares rose more than 3% in early trading yesterday.

Trade between China and the U.S. declined earlier this year amid escalating retaliatory tariffs, prompting container shipping companies like MSC and COSCO to suspend regular service lines or cancel individual sailings.

The Danish company expects its core earnings before interest, taxes, depreciation, and amortization (EBITDA) this year to range between $8 billion and $9.5 billion, compared to previous forecasts of $6 billion to $9 billion.

Maersk also expects continued disruption to shipping through the Red Sea for the remainder of the year.

EBITDA rose 7% year-on-year in the second quarter to $2.3 billion, exceeding analysts’ expectations of $1.98 billion.

Sales increased 3% year-on-year to $13.1 billion, also surpassing analysts’ forecasts of about $12.61 billion.