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.
The world's top container lines are on track for a combined double-digit billion-dollar profit on their operations in 2020, which is the highest level in eight years, projects Sea-Intelligence.
French container and logistics group CMA CGM delivers a third quarter profit of more than USD 500 million. The group projects an even stronger operating profit for the fourth quarter.
Despite a net deficit of USD 17.8 million in the third quarter, container operator MPC Container Ships is optimistic about 2021.
The break from major German customer DB Schenker does not indicate that Maersk is losing support from freight forwarders after the group has itself entered logistics, says CEO Søren Skou.
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.
Container line Zim reports a record-high profit for the third quarter. The fourth quarter is expected to be at least as strong, projects CEO.
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.
A positive quarter so far now makes Maersk upgrade its earnings forecast again for 2020 as a whole.
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.
China's attempts to slow down the container lines' rate increases by introducing a ceiling are not met with support from customers, nor are they reflected in the rates, says analyst.
Pacific International Lines, PIL, has missed a payment on a loan worth SGD 60 million. The container line is currently in talks with a state-owned fund in Singapore to land a large-scale aid package.
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.
Taiwanese Yang Ming saw a steeper decline in its handled container volumes during the third quarter. Despite positive signs, prospects remain uncertain for the container market, the carrier says.
The prospect of high demand on the Transpacific makes the world's largest container lines deploy ships on the route to a far greater extent than on Asia-Europe, writes Sea-Intelligence.
Maersk might soon lose the title as the world's biggest container line to its alliance partner MSC, according to Sea-Intelligence.
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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.
South Korea's biggest container line, HMM, also makes a strong exit from the third quarter. But the company is concerned about the surge in Covid-19 cases and the US Presidential Election.
Due to the ever-increasing freight rates, US investment bank Jefferies now expects that new guidance upgrades may be in store at several container lines. (Updated).
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.
Maersk now boosts capacity on a route between Asia-Europe to create more flexibility in its supply chain. This is done through a service that includes a rail service through Russia.
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