The world's ports have four major business opportunities that can help them grow and play a bigger role in the global society, says Olaf Merk, port expert at OECD. Read on to learn the four opportunities.
CEO of the Port of Gothenburg, Magnus Kårestedt, has spent much of his time in the last 18 months handling the port's labor conflict between APM Terminals and the dockworkers. "Many don't understand the core of the conflict," he says in the latest article in ShippingWatch's series on communication.
The world's presumably second-largest gas deposits are ready for export in Iran, on which trade sanctions are now being lifted. But there is a long way to go before the flow of gas will once again trade out of Iran, the carrier tells ShippingWatch. Lauritzen Kosan agrees.
CEO Søren Skou was unable to deliver what analysts, competitors, and undoubtedly shareholders had expected. The carrier has lost market shares at what looks like the worst possible time, observers note. Fully in line with expectations, says Skou.
The Maersk Group's product tanker carrier, Maersk Tankers, lost more than USD 483 million in the second quarter, a deficit that pulls the group into the red. Port unit APM Terminals also booked impairments related to several ports.
Ezion, another one of Singapore's offshore companies, has filed for insolvency, and trading of the company's shares has been suspended. Shipping service company Marco Polo's shares have been suspended since May, and the company's latest interim report does not bode well for the future.
Maersk Line grew, benefiting from a strengthened container freight market, while major impairments at Maersk Tankers and APM Terminals dragged the group's overall results down. And the hacker attack came at a high price.