With growth in revenue of seven percent, an increase in freight rates of 30 percent, and a result before taxes that shot up by 23 percent to USD 105.9 million, DFDS – headed by CEO Niels Smedegaard – was able to deliver yet another strong result on Tuesday. And this was followed by yet another full-year upgrade from the RoRo and passenger carrier.
Tanker and dry bulk in the red
On the other side of the fence, a weakening of the global tanker market has taken its toll on leading carriers in product tanker, as losses in the dry bulk sector also continue to roll in.
Maersk's credit rating down
Paradoxically, Maersk's own restructuring to help the company through hard times has likely had a negative impact on the transport and energy conglomerate after Standard & Poor's reduced its credit rating of the company, according to several sources. Standard & Poor's is already considering knocking down the rating another notch.
Make sure to read these other key stories from this week on ShippingWatch:
Such as the latest developments surrounding collapsed container carrier Hanjin:
And the latest news from the world of offshore: