What's going on?

Thank goodness Maersk navigated these troubled waters without making too much mess on the poop deck: the shipping company upped its earnings expectations on Wednesday.

What does this mean?

The world is moving again: there were 1% more containers on the move last quarter compared to the same time last year, and Maersk transports around a fifth of them. And with so many shipments to make, the company�s now raised its profit expectations for the second time in as many months.

Maersk doesn�t even seem to be worried about the global surge in coronavirus infections. Lockdowns or no lockdowns, after all, shoppers are still spending their money. If anything, they�re spending it on flatscreens and games consoles rather than nights out with friends, which are notoriously difficult to ship in a metal container.

Why should I care?

For markets: Maersk schmaersk.

Maersk�s considered to be a bellwether stock for global trade, which means its recovery is a good sign for broader economic activity. Goldman Sachs might feel especially vindicated by the shipping company�s outlook: the investment bank is predicting that US economic growth will reach 5.3% in 2021 � far better than consensus expectations of 3.8%. As for US stocks, it reckons they�ll climb from current levels by almost 20%.

The bigger picture: Bad business.

If transport�s back up and running, the business world doesn�t seem to have got the memo: tech guru Bill Gates thinks business travel will be cut in half even when COVID-19 is under control. That isn�t something airplane maker Boeing wanted to hear: airlines aren�t going to need as many of its planes if there are fewer people flying for work, which is the most lucrative part of air travel. Talk about bad timing: its 737 Max airplane has just been cleared to fly again after an almost two-year ban�