By Jacob Gronholt-Pedersen and Nikolaj Skydsgaard COPENHAGEN, May 13 (Reuters) - Shipping group A.P. Moller-Maersk warned of a sharp drop in global container volumes due to the coronavirus pandemic, with weaker retail sales and depressed car production dampening demand. The crisis has thrown the container shipping trade off balance as supply chains have been upended and … [Read more...]
Maersk Reports Higher Q1 Earnings, But Suspends 2020 Outlook
Fotokon / Shutterstock.com By Nikolaj Skydsgaard COPENHAGEN, March 20 (Reuters) - Cost-cutting and price rises will help Maersk deliver higher first-quarter earnings than a year ago, the shipping giant said on Friday, though it scrapped its full-year forecast due to uncertainty caused by the coronavirus pandemic. The Danish company said its guidance on earnings … [Read more...]
Maersk Ship Breaks Down Near Gibraltar
MV Maersk Batur. Photo: MarineTraffic.com/Mick Prendergast A Maersk containership broke down and began drifting shortly after departing Algeciras, Spain to Newark, New Jersey. Maersk said in a Jan. 30 customer advisory that the Maersk Batur suffered main engine damage which will cause the vessel to be delayed. “The Nautical department is sailing the vessel … [Read more...]
Maersk Raises Bunker Surcharge as Fuel Costs Spiral
By Firat Kayakiran and Jack Wittels (Bloomberg) --The world’s largest container shipping line is hiking up a fuel surcharge that it imposes to transport boxloads of goods across the world’s oceans after new environmental rules sent the industry’s biggest expense spiraling. Most of the world’s ships were forced to switch to burning fuel that’s lower in sulfur this year, … [Read more...]
Maersk Keeps Costs Down with Uncertain Outlook
By Jacob Gronholt-Pedersen and Stine Jacobsen COPENHAGEN, Nov 15 (Reuters) - A.P. Moller-Maersk said on Friday prospects for a pick-up in demand for seaborne container traffic were clouded by an uncertain economic outlook but the shipping group's focus on driving down costs helped its shares higher. The world's biggest container shipping firm said global container demand was … [Read more...]