(Reuters) -Danish shipping group AP Moeller-Maersk on Monday raised its full-year profit guidance for the second time in a month on the back of strong container market demand and the crisis in the Red Sea. Maersk now expects its underlying earnings before interest, tax, depreciation and amortisation in the range of $7 billion to $9 […]
COPENHAGEN (Reuters) -Shipping group Maersk raised its full-year profit guidance after posting better than expected quarterly earnings on Thursday, citing strong container shipping demand and the diverting of vessels around Africa to avoid the Red Sea. The Copenhagen-based company, viewed as a barometer of world trade, said growth in demand for ocean container shipping was […]
Danish shipping giant AP Moller-Maersk has agreed to invest $600m in Nigeria’s port expansion and improvement project. The company’s chair, Robert Maersk Uggla, agreed to the investment in a meeting with Nigeria’s President Bola Tinubu at the World Economic Forum Special Meeting in Saudi Arabia on Sunday, according to the President’s office. Tinubu said the […]
COPENHAGEN (Reuters) -The global container shipping market faces overcapacity in the coming years and the rates paid by customers have fallen to an unsustainable level, Maersk CEO Vincent Clerc told the group’s annual meeting of shareholders on Thursday. Maersk last month warned that container shipping overcapacity would hit profits this year, in contrast to the […]
Maersk is worried about profitability. (Photo: Jim Allen / FreightWaves) Last week, Maersk management announced that the company was suspending its share buyback program and cutting its dividend by 88%, signaling the end of an era when managing and deploying an enormous excess of capital was the top concern for the shipping line’s executive team. […]
(Bloomberg) — A.P. Moller-Maersk A/S shares plunged after the shipping company said it expects renewed gloom in the shipping industry later this year when the current boost to freight rates from the Red Sea conflict evaporates. Most Read from Bloomberg That will still leave global container trade growth at 2.5% to 4.5% for the full-year, […]
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Maersk has sent two container ships through the Red Sea carrying goods for the United States military and government, according to the Danish company and ship tracking data. Maersk and other large shipping lines have instructed hundreds of commercial vessels to stay clear of the Bab al-Mandab Strait near […]
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Maersk has sent two container ships through the Red Sea carrying goods for the United States military and government, according to the Danish company and ship tracking data. Maersk and other large shipping lines have instructed hundreds of commercial vessels to stay clear of the Bab al-Mandab Strait near […]
Danish shipping company Maersk has announced its decision to resume shipping through the Red Sea, following the launch of military operations to protect the ships from Houthi attacks. The Red Sea is one of the most important sea routes for transporting oil, natural gas, and consumer goods, bordered by the Yemen coast and the Suez […]