A joint lobby effort from the Danish shipping industry this summer led to Denmark becoming a hub for crew changes during the coronavirus crisis. Early in the process, Maersk's CEO met with the prime minister, reveals right of access to documents.
Shipowners, so-called non-operating owners, have yet to benefit from the high rates container lines are booking, especially on the Pacific. But this could change in the coming months, reports Alphaliner.
A.P. Møller-Maersk plans to invest between USD 4.5 and 5.5 billion in 2021 and 2022. Maersk's financial reserves for acquisitions, share buybacks and investments are, however, much greater, assesses investment bank. Skou denies expanding the fleet.
Maersk CEO Søren Skou rejects the notion that customers are paying for the earnings party the company is currently enjoying while rates are sky-high and fuel prices low. On the contrary, he thinks customers are pleased about how the company is doing.
Maersk reports a billion-dollar profit for the third quarter, a doubling compared to the same period last year, even though the coronavirus pandemic is negatively impacting the global economy. The company upgraded its guidance on Tuesday.
Two associations which collaborate across the container sector have settled a series of new standards aimed at making it easier for shipping lines and container lessors to work together and to track equipment.
France's CMA CGM launches a new product offering to its customers, which ensures carbon-neutral transport, according to the container line. The offer includes an option to compensate for emissions by supporting CO2 sequestration projects.
As the first big container line, CMA CGM now confirms that China is putting pressure on container majors, as described by ShippingWatch a few months back. According to CMA CGM's chief executive, China wants to cap rates, he tells Financial Times.
Pacific International Lines (PIL) is in talks with the state in Singapore to land a USD 600 million aid package, which will secure the debt-plagued container line's long-term survival, reveals a presentation sent to creditors.
The coronavirus pandemic has turned the world upside down, and yet Hapag-Lloyd's biggest change in 2020 is something entirely different. According to the company's chief executive, customers are now also starting to benefit from the earnings party.
German container shipping line Hapag-Lloyd's earnings increased more than 20 percent in the third quarter despite a drop in volumes. The increase is largely attributable to high demand in Asia and rising rates.