The South Korean police will offer personal protection for several hundred truckers working in spite of major strike among colleagues. A new government crisis meeting has been scheduled for Thursday.
Double capacity as both carrier and logistics operator spikes concern from freight forwarders. Maersk gains insight into competitor services, critics maintain.
Nationwide railway strike in US thwarted. It was set to begin on Dec. 9 damaging cargo shipments and passenger traffic severely, and would have cost the US economy USD 2bn a day.
Another attempt at renegotiation between striking truck drivers in South Korea and the nation’s government collapsed on Wednesday after only 40 minutes.
The shipping major has had its first aircraft delivered from Boeing for air freight venture MSC Air Cargo.
Ceva Logistics, which is owned by shipping major CMA CGM, advanced on several parameters during Q3. Profitability was not able to follow suit, though.
The European freight market is still under pressure, prompting the German freight forwarder to increase freight rates on road transportation.
The global logistics sector will not escape the economic downturns of 2023, two analyst bureaus predict.
Container major MSC has definitively given up on its attempt to acquire Italian airline ITA in partnership with Lufthansa.
It might take three months for DFDS to receive a response on its acquisition plans for a Turkish logistics company, but the firm is considering other opportunities, says the CEO.
DFDS is making more money than ever before, and even though a global decline could be around the corner, CEO Torben Carlsen is confident, referring to the company’s ability to adapt in recent years.
Several competitors have launched temporary freeze of appointments due to the freight market slowdown. This is, however, not the case at logistics company Scan Global, tells COO Mads Drejer.
Recruiting: Jan N. Lauridsen has been a headhunter for ten years, during which the fundamental traits of the pool of potential chief executives have changed. In ten years, it will once again look very different, he says.
A US freight forwarder and previous acquisition item for logistics major DSV is planning to bid more than 1,000 employees farewell, reports media.
Even though the container market is shrinking considerably at the moment, S&P forecasts the global market to increase by 3 percent per year until 2030.
The world’s largest logistics firm, DHL, is seeing clear signs of a slowdown, saying many customers have become more reserved because of economic worry.
Freight rates started to fall during Q3, says DHL, but the company’s freight business, DHL Global Forwarding, still managed to increase both revenue and operating result.
The shipping major has increased the price for land transports on a number of European markets due to elevated energy prices.
Maersk has put a lot of capital aside for logistics acquisitions, and CEO Søren Skou is glad competitors have chosen a different path.
Q3 growth at Maersk’s logistics business landed above analyst expectations, with progress primarily driven by the effects of takeovers.
In Q3, the container and logistics giant’s revenue increased by 37 percent and the operating result by 60 percent compared to the same quarter last year. Despite waning demand, full-year expectations are maintained.
HSBC has a very positive view on Maersk’s logistics endeavor, which has led to billion-dollar acquisitions in the last year. When the container market normalizes, Maersk’s logistics business and port terminals will reach a milestone in earnings during 2024, according to the major bank.
”As long as employment is there, I don’t think consumption will collapse,” says DB Schenker’s Air & Ocean chief in an interview with ShippingWatch about US demand, spotting positive signs in the global economy and expecting a dive in demand rather than a recession.
A nationwide strike in South Korea is crippling supply chains and has so far caused disruption totaling USD 2.69bn, the government warns.
The government of South Korea considers issuing additional return-to-work orders in connection to nation-wide strike among truck drivers.
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