DFDS' growth target has been cut in half since Niels Smedegaard resigned as CEO. But his replacement, Torben Carlsen, thinks improvement might occur next year in the company's two most important markets. The company's stock price increased 7.4 percent Tuesday.
Today, negotiators from the UK reached and agreement with officials in Brussels, which could pave the way for an Oct. 31 Brexit. But Northern Ireland's Democratic Unionist Party said it still can't support the deal.
The UK government has awarded a series of new Brexit contracts that will ensure freight of medicine to the UK after Brexit. DFDS and Stena Line are among the ferry operators which have secured some of the contracts, which are worth several million pounds.
Just a few days ago, Prime Minister Boris Johnson said that the UK would leave the EU on Oct. 31 no matter what. Now, the BBC reports that the government is prepared to ask for yet another extension if a deal is not reached by Oct. 19.
UK Prime Minister Boris Johnson presents the latest Brexit divorce settlement proposal to both the EU Commission and the House of Commons today, Thursday. The question of an Irish border continues to be a central contentious issue, with new lines being drawn along the Irish Sea. Even so, Downing Street has softened its rhetoric from the recent "final offer" stance to a broader, negotiable platform.
Dover stands to lose business worth GBP 1 billion per week if the UK leaves the EU without a deal, port CEO predicts. Bloomberg writes that Prime Minister Boris Johnson has given the EU an ultimatum to land a deal within nine days.
Earlier this year, the UK canceled a number of Brexit-related contracts with companies like DFDS. Now the shipping company resumes talks with the UK on new agreements to ensure freight capacity in case the country leaves the EU without a deal.
DFDS has now acknowledged that Brexit will have a far bigger impact than anticipated. This is due to factors that include the appointment of a new prime minister. "There's lower activity, and it is taking longer than we expected," CEO Torben Carlsen tells ShippingWatch.
DFDS erkender nu, at brexit får langt større indflydelse end ventet. Det hænger bl.a. sammen med udnævnelsen af ny premierminister. "Der er lavere aktivitet, og det trækker længere ud, end vi havde regnet med," siger topchef Torben Carlsen til ShippingWatch.
This week especially held stories involving the Strait of Hormuz, and most recently, the Danish government has declared its readiness to participate in a naval mission. Moreover, an investor has lost patience with a Danish shipbreaking yard, and logistics company Kuehne+Nagel said no to seafreight acquisitions.
With Boris Johnson as the new UK Prime Minister, the risk of a no-deal Brexit just increased significantly, warn several organizations. DFDS continues its preparations while hoping for a deal, informs chief executive.
Following the annulment of several Brexit contracts with companies such as DFDS, the UK is drawing up a list of suppliers able to make extra freight capacity available in case the country leaves the EU with no deal.
Sliding profit margins pose difficulties for logistics companies in paying for Brexit preparations, concludes a new report from the UK's Freight Transport Association. 37 percent of companies participating in the survey have not yet taken steps to prepare.
The UK's Department for Transport has decided to cancel the Brexit contracts signed with ferry operators DFDS and Brittany Ferries, which were meant to ensure extra capacity in case of a no-deal Brexit, DFDS confirms to ShippingWatch.
Although Brexit is postponed, DFDS is currently operating the extra departures that the company has contracted with the UK, as the contract does not include an option for postponement. Some departures have been canceled, DFDS tells ShippingWatch.
After a series of defeats and rebukes in the House of Commons, thus far preventing any deal with the continent, UK Prime Minister Theresa May has asked the EU to extend article 50's due date until late June. This could improve the chances of striking a digestible Brexit deal.
The Brexit contracts between DFDS and the UK Department of Transport do not take into account the postponement of the UK's exit from the EU, which was adopted Thursday. DFDS could thus still profit from the contracts, reports Børsen.