When the delays were at their worst, Maersk vessels arrived a little over 24 hours late on average. But the delays were short-lived, according to a new analysis by SeaIntel. The IT problems are almost over, says Maersk Group.
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 world's largest container carrier, Maersk Line, achieved a USD 339 million profit in the second quarter. Freight rates are up 22 percent compared to last year, while impairments in other business units dragged down the group's overall result into the red.
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.
South Korea's new president is allegedly prepared to go further than his predecessor in efforts to aid the country's crucial maritime industry. Part of the plan is establishing the Korea Maritime Promotion Agency. The EU has previously criticized the country's involvement in the maritime sector.
Among the dry bulk carriers, Pacific Basin is one of the few players so confident in the market that it has performed a significant fleet expansion. And more could be under way. ShippingWatch has interviewed CEO Mats Berglund about where the optimism comes from.
The second quarter was historically good for DFDS which also bought new vessels during the period. CEO Niels Smedegaard tells ShippingWatch that there are two acquisitions in the pipeline, which he hopes to land this year. "It is a nice situation to be in," he says.
They have seen the highest dry bulk rates in four years but it is still not enough, Norden CEO Jan Rindbo tells ShippingWatch. The carrier's bright spot came in the form of the struggling tanker segment.
An Indian newspaper reports that APM Terminals is preparing to sell its large stake in port Gateway Terminals India. If the sale happens, it could indicate that APM Terminals is on track to leave India entirely, writes Alphaliner in an analysis.