A VAT dispute in Latvia has now left ferry operator DFDS with millions of kroner in extra costs and a future of navigating a bureacratic minefield. However, the Danish carrier predicts challenges throughout the industry: ”It is only when it’s actually happening, that you realize it is a problem,” warns the company’s indirect tax manager.
The container industry – and Maersk – is under pressure from customers and politicians, who argue that carriers are benefitting from attractive and unfair business terms. Maersk CEO Søren Skou rejects the criticism and doubts the EU will change the special competition regulation employed by the sector.
Maersk is way ahead of its targets within the logistics business, and Chief Executive Søren Skou is not opposed to increasing the level of ambition. The business leg is developing well in the US and Asia, whereas Europe is lagging behind.
Wednesday, Maersk presented its financial report for the second quarter and first half-year, revealing significant growth across the group’s four core units. Ocean and Logistics deliver record growth. Here is an overview of the Maersk group’s interim report.
DSV CEO Jens Bjørn Andersen expects demand to wane for the rest of 2022 but no major decline. The logistics group’s new guidance upgrade still entails an expected slowdown, he tells ShippingWatch’s sister media, MobilityWatch.
DSV is in line for a record result for the year’s second quarter based on progress in the air and ocean business as well as the acquisition of GIL. However, DSV has difficulties conquering market shares, according to analyst from Danish bank Sydbank.
DFDS Chief Executive Torben Carlsen tells that the Danish ferry and logistics company is ”in consistent dialog” with customer Ekol Logistics ”about all sorts of things.” Turkish media has reported that DFDS intends to buy the road transport division of Ekol Logistics.
Effective Monday, US President Joe Biden has established a Presidential Emergency Board with the aim of resolving the current strife between railway companies and labor unions. The conflict prompts bottlenecks in container ports.
Labor impasses are spreading across the US logistics network in the busiest months of the year for shipping as dock- and railroad-worker unions are currently negotiating contracts with employers, with the latter threatening to strike as soon as July 18.
The Danish company is once again on the acquisition trail and takes over two companies within freight forwarding and logistics. The acquisitions occur shortly after the purchase of a Hong Kong-based forwarder.