By Dominic Chopping

A.P. Moeller-Maersk AS said Tuesday that current high demand, high freight rates and supply-chain disruptions will continue at least into the first quarter of 2022 as it confirmed full-year guidance and increased its share buyback program by $5 billion over the years 2024 and 2025.

Maersk also announced the acquisition of global freight forwarder Senator International to expand its air-freight offering in a deal worth $644 million. In conjunction with the deal, Maersk has three leased cargo planes and ordered two new Boeing B777 aircraft.

The Danish shipping giant has seen supply-chain bottlenecks, port congestion and increased demand while container capacity has remained constrained, sending freight rates 87% higher in the quarter compared with last year while shipping volumes slipped 0.6% amid shortage of equipment and congestion.

The company posted a quarterly net profit of $5.44 billion, up from $927 million, as revenue rose 68% to $16.61 billion. A FactSet poll had seen net profit at $5.24 billion on revenue of $16.34 billion.

Maersk said global container demand is now seen growing 7%-9% in 2021, from 6%-8%, and its ocean unit is now seen growing below that level due to congestion and network disruptions.

The company sees first quarter 2022 Ebitda in line with the fourth quarter of 2021, it added.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

11-02-21 0404ET