Maersk fears further effects of trade war
Maersk CEO Søren Skou expects the new tariffs in the US-China trade war to dampen growth in container volumes by one percentage point.
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Maersk CEO Søren Skou expects the new tariffs in the US-China trade war to dampen growth in container volumes by one percentage point.
A.P. Møller-Maersk books a pre-tax profit of USD 2 million in the first quarter. The year came off to a good start, but the trade war escalation may weaken the container market, says CEO Søren Skou.
CMA CGM has ordered trackers to measure everything from temperature fluctuations to GPS positions on 50,000 of its containers. The supplier is a company invested in by the French container line.
Icelandic authorities' investigation into Eimskip and its management is illegal as well as flawed, says former Eimskip CEO, who wants the investigation stopped.
Container freight rates have surged, and this has helped increase revenue at Israeli container line ZIM, though transported volumes have decreased.
A weaker growth in the first quarter combined with the escalating trade dispute between the US and China makes Alphaliner lower its expectations for growth in container shipping.
Maersk is expected to report an improved but far from spectacular result when the company publishes its interim report Friday, note several analysts, pointing to an uncertain future for the container shipping sector overall.
Consultancy firm McKinsey & Company has presented two scenarios for the container industry's evolution toward 2050. The outcomes are very different, and developments in India are a common key factor.
HMM expects increasing rates during the peak season, but the US-China trade war dampens growth, the container line writes in its first quarter financial report.
"It's not a 1:1 relationship between us and the shipping lines," says the European Shippers' Council, noting that the concentration among liner companies has only tilted the balance even further. Now the shippers hope that the EU can force changes through.
As expected, the closing of a factory in Chile has been costly, shows the annual report from MCI's Danish affiliate. It was the new CEO Sean Fitzgerald who closed the factory shortly after his arrival in 2018.
The key tradelanes between China and the US could be hit by significant decreases if both countries act on their threats of new and large-scale tariffs. Alphaliner estimates that volumes could drop by eight percent in 2019.
Some major shipping lines, including Cosco, have still not entered the liner sector's new major digital association, and this puzzles the chief information officer at MSC, who also chairs the association's advisory board, reports Danish media.
As the world's fifth-largest shipping line, Hapag-Lloyd itself participated in the consolidation wave that has characterized the sector in recent years. But the sector forgot the customers in its unilateral focus on cutting costs and achieving synergies, says the company's COO.
The container sector's new association aimed at creating industry standards is now backed by another five shipping lines. The new names include CMA CGM, which was also part of the initial discussions.
After buying 69 ships in two years, MPC will now instead spend its money on a buyback program. A drop in prices means that this is better use of capital, the chief executive tells ShippingWatch.
Bigger volumes, improved freight rates and a stronger dollar contributed to Hapag-Lloyd more than quadrupling its operating result in the first quarter.
Cosco has bought several container factories from its smaller competitor PIL. Alphaliner sees the transaction as a possible sign of a coming sale of family-owned PIL.
So says Michael Nielsen, one of the shipper executives often listened to, and who has for years been heading Caterpillar's Asia transport. He presents what he believes is a good idea for the new DSV Panalpina in an interview with ShippingWatch.
Navigare Capital Partners, whose owners include Robert Mærsk Uggla, finished 2018 with a larger profit than the year before. The investment firm is currently working on a new shipping fund.
While the IMO is really starting to discuss CO2 reductions, the European Commission has just highlighted speed limits as a very effective means to achieve that in a report. Lower speed would however require significantly more vessels. Read the entire report here.
New VP charged with doubling core area within ocean freight business in Ceva as part of new owner CMA CGM's strategy. He has until the end of 2021 to reach the target, he tells ShippingWatch in an interview.
The major container liners improved their schedule reliability this year compared to 2018. However, the liner companies are still poor at arriving on time, according to Sea-Intelligence.
Singapore's GIC fund is investing in the terminal operator TIL, most of which is owned by MSC.
Greenlandic container carrier Royal Arctic Line is now profitable again, shows the annual report. The shipping line has improved its schedule reliability significantly in the pas year.
Technical Superintendent(s) - Dania Ship Management
