South Korea's billion dollar aid to strained shipping companies faces harsh criticism: "The last thing we need"
It is "very worrying" that South Korea plans to help the country's shipping companies with USD 1 billion, says Danish Shipping, which fears that this could lead to further overcapacity in an already strained market. South Korea's biggest shipping line rejects this criticism.
DFDS outdoes analyst predictions in the first quarter. The Danish ferry and logistics company made it through Brexit in better form than expected, according to CEO Torben Carlsen, while the integration of a logistics acquisition has been pushed back.
While an increasing number of carriers opt to include LNG vessels in their fleets, one of the world's largest shippers, Ikea, makes it clear that the liquefied natural gas is not the way to go for shipping companies to deacrbonize.
Maersk expects to be able to achieve a 12 percent return on invested capital ahead to 2025, says CEO Søren Skou during the shipping group's capital markets days Tuesday. This target is significantly higher than previously stated targets.
Tanker company Diamond S Shipping saw a weak tanker market affect its result in the first quarter, which ended in a large loss. The carrier expects to finally merge with International Seaways later this year.