Maersk has now received a response from local authorities in China after several seafarers last week were isolated on ship Gjertrud Maersk with symptoms of covid-19. The results show cases of coronavirus infections, the company tells ShippingWatch.
Sliding demand forces container alliance 2M, which consists of Maersk Line and MSC, to void more than one fifth of its voyages between Asia and Europe as well as Asia and the Mediterranean in the second quarter of 2020, reports Sea-Intelligence.
The coronavirus makes it nearly impossible to predict trade routes, prompting logistics firm DHL to declare the current situation force majeure. This is not yet the case for DSV Panalpina, while Blue Water describes a situation in which "the normal cargo flow is down."
French container line CMA CGM has carried out the first part of the refinancing plan the carrier announced in November. It demonstrates the group's resilience, says Chair and CEO Rodolphe Saadé.
Two new members have been proposed for the board of directors at Nordic Transport Group in connection with the call to its upcoming annual general meeting.
Former DFDS Chief Executive Niels Smedegaard joins logistics group DSV Panalpina's board of directors. Smedegaard left DFDS last year to focus on board work.
A.P. Moeller-Maersk Chairman Jim Hagemann Snabe defends his remuneration of USD 1 million per year. "The pay hasn't changed significantly in the past 13 years," he says.
Having learnt its lesson from the financial crisis, DSV Panalpina argues it is less dependent on its banks than in the past.
A big blow to DSV Panalpina in February will likely continue in the months to come, and this has made the group suspend its guidance. The company's stock is down 11 percent.
Denmark, Germany and Norway have either shut down their borders or temporarily sealed off access to the countries in other ways in response to the corona outbreak. Large shipping companies are sending employees home.
DSV Panalpina withdraws its guidance for 2020 as a consequence of the coronavirus, which will impact its business negatively, the company informs.
Maersk accuses the four largest railroad companies in the US of having illegally fixed fuel surcharge prices at "extraordinary meetings, phone calls and e-mails" from 2003 to 2008. The railroad companies reject the accusations.
An Icelandic fisheries group has increased its stake in Eimskip considerably. According to domestic law, the group must now issue an offer to other stakeholders to acquire the remaining shares in the shipping line, which has a market value of USD 211.5 million.
Nordic Transport Group, NTG, is prepared to grow through acquisitions, although no fresh capital was raised at last year's IPO. "It's not as though our acquisition growth will stop," Group CEO Mikkel Fruergaard tells ShippingWatch.
Even though the coronavirus has created a lot of uncertainty about developments in the global economy, CMA CGM Chief Financial Officer Michel Sirat is convinced that Ceva Logistics can become profitable this year, he tells ShippingWatch.
The oil price collapse and the coronavirus give container lines an unexpected edge in their efforts to offload major additional fuel costs with customers. The situation has also put tankers in a favorable position.
Swiss logistics firm Kuehne + Nagel has sold a considerable slice of its UK contract business to US-based competitor XPO Logistics.
The second part of the turnaround initiated by CMA CGM for its Ceva Logistics acquisition has begun. Much of the loan has been paid off, but Ceva still burdens the group's debt.
DSV Panalpina sells its brand-new headquarters in Denmark to a foreign investor that has not previously invested in the country.
The OECD now predicts the worst year for the world economy since the financial crisis. In an update of its growth prognosis, growth in the Euro-zone, China and Japan is significantly downgraded for 2020 as a result of the bill encountered from fighting the coronavirus.
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