COPENHAGEN, Oct 21 (Reuters) - Shares in A.P. Moller-Maersk surged more than 7% on Monday after the Danish shipping company raised its expectations for 2019 profit despite headwinds from the U.S.-China trade war. Maersk said it expected earnings before interest, taxes, depreciation and amortisation (EBITDA) in a range of $5.4 to $5.8 billion, up from its previous expectation … [Read more...]
Maersk CEO Wants to Explain Free Trade to Trump
By Christian Wienberg (Bloomberg) -- The chief executive officer of the world’s biggest shipping line says he’d like to meet with U.S. President Donald Trump to explain the merits of free trade. Soren Skou, the CEO of A.P. Moller-Maersk A/S, delivered a set of quarterly results on Thursday that show his company has so far managed to ride out the trade war that’s raging … [Read more...]
Shipping Giants Join Maersk’s Blockchain Platform
By Jacob Gronholt-Pedersen COPENHAGEN, May 28 (Reuters) - Mediterranean Shipping Co (MSC) and CMA CGM, two of the world's biggest container shipping groups, are to join market leader Maersk in a blockchain platform aimed at limiting a costly paper trail in the industry. With MSC and French-based CMA CGM, the second- and fourth-largest container shipping companies, joining … [Read more...]
ITF Urges Canada to Halt Lashing on St. Lawrence River After Man Overboard Fatality
The International Transport Workers Federation is calling on Transport Canada to ban foreign-crew from undertaking lashing work while vessels are underway on the Saint Lawrence River the death of a Maersk Line officer earlier this week. The Sri Lankan Second Officer, named Ravindu Lakmal Pieris Telge, fell overboard from the containership Maersk Patras at approximately 9:30 … [Read more...]
Maersk Warns Trade Tensions are Hurting Shipping’s Growth
By Jacob Gronholt-Pedersen and Stine Jacobsen COPENHAGEN, May 24 (Reuters) - A.P. Moller-Maersk , the world's largest container shipping company, warned on Friday that trade tensions and an economic slowdown are slowing growth in global freight. Maersk, which is seen as an indicator of global trade patterns, cut its forecast for global growth in container traffic this year … [Read more...]