DHL saw double-digit growth in revenue and a record operating profit in Q2. The freight division has delivered an “outstanding quarterly result,” says the logistics group Friday.
The parent company of Seaspan, the world’s largest lessor of container vessels, has received a ”take private” bid from a group of existing shareholders and Japanese liner major ONE.
A VAT dispute in Latvia has now left ferry operator DFDS with millions of kroner in extra costs and a future of navigating a bureacratic minefield. However, the Danish carrier predicts challenges throughout the industry: ”It is only when it’s actually happening, that you realize it is a problem,” warns the company’s indirect tax manager.
The shift from dry bulk to product tanker during Q2 has seemingly worked out well for Danish carrier Norden, which now expects a 2022 result of USD 560-640m.
DHL terminates its transport business in Russia but slowly begins reopening activities in Ukraine, which have been shut down for safety reasons.
Major US dry bulk operator Eagle Bulk follows the promising trend among competitors, presenting a net result for the second quarter which is ten times higher than last year.
An agreement between DFDS and competitor P&O Ferries regarding collaboration on the English Channel has been approved by UK competition authorities.
An additional three vessels carrying grain have been permitted to sail out from ports in Ukraine, according to the Turkish Ministry of National Defense. A deal between Russian and Ukraine about ensuring Ukrainian grain exports is thereby given the seal of approval.
Dry bulk carrier Star Bulk Carriers reports higher rates in the second quarter, which made its earnings and result soar. At the same time, the company has earned back a significant scrubber investment during the period.
One of the world’s oldest and still existing media, British maritime publication Lloyd’s List, has been sold to private equity firm Montagu.
The container industry – and Maersk – is under pressure from customers and politicians, who argue that carriers are benefitting from attractive and unfair business terms. Maersk CEO Søren Skou rejects the criticism and doubts the EU will change the special competition regulation employed by the sector.
Shipping companies are rerouting vessels after China has advised ships and aircraft to avoid regions near Taiwan where Chinese military exercises are carried out in a response to US House Speaker Nancy Pelosi’s visit on the island.
Container carriers made progress as far as having goods arrive on time in June, according to Sea-Intelligence. June marks the first month this year in which carriers’ schedule reliability is better than in 2021.
The order book on LNG vessels now corresponds to 40% of the existing fleet, but with an expected surge in gas consumption, Clarksons projects that the fleet will increase significantly towards 2030.
Maersk is way ahead of its targets within the logistics business, and Chief Executive Søren Skou is not opposed to increasing the level of ambition. The business leg is developing well in the US and Asia, whereas Europe is lagging behind.
Unusually high natural gas prices of late are leading many nations and commercial players to regress into firing coal, with the largest surge forecast for Europe, writes IEA in a new report.
A difficult period for tanker carrier Teekey Tankers appears to have ended. The company has benefitted from an improved tanker market, landing a profit in the second quarter.
Belgian tanker major Euronav, which is in the process of merging with competitor Frontline, saw progress in the second quarter despite a minor net deficit.
US dry bulk operator Genco Shipping landed net income of USD 47.4m in the second quarter – an increase of almost 50% compared to the same period in 2021.
Economic slowdown has sent the container market back to the level prior to the Covid-19 pandemic. Maersk CEO Søren Skou nonetheless forecasts solid earnings for the industry for some years to come.
Even though Maersk has transported fewer containers in Q2, the carrier has more than doubled profits in its Ocean division. Increasing freight rates pull results up, and customers are increasingly signing long-term contracts.
Glencore knowingly supplied 24 vessels in Singapore with contaminated bunker fuel, an MPA investigation has found. The company’s bunkering license has been suspended for two months.
Wednesday, Maersk presented its financial report for the second quarter and first half-year, revealing significant growth across the group’s four core units. Ocean and Logistics deliver record growth. Here is an overview of the Maersk group’s interim report.
A group of companies looking for new ways to promote diversity, equity, and inclusion in the maritime industry have come up with a ’Dragon’s Den’-style solution.
Operator of wind installation vessels Eneti saw increased earnings in Q2, primarily driven by an acquisition completed last year by the former Scorpio Bulkers. Updated.
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