Shipping giant A.P. Moller-Maersk said on Monday it had appointed Vincent Clerc, who has been with the firm for 25 years, to replace Soren Skou as Chief Executive Officer as of Jan 1. Company veteran Clerc, who currently heads the company's Ocean & Logistics business, is taking the helm at a time of slowing demand for transport and logistics as a global recession looms. 'The strong tailwinds that benefited the supply chain industries during the pandemic are coming to an end…
APM Terminals, a subsidiary of Danish shipping company Maersk, plans to double its capacity at Rotterdam Port, a spokesperson for the company said on Tuesday. APM, one of the largest operators at the port, currently operates a one-kilometer…
South Korea's Samsung Heavy Industries shipyard hosted a naming ceremony for the 15,000 TEU LNG dual-fuel vessel Zim Sammy Ofer.The Zim Sammy Ofer is the first of 10 vessel ordered in a long-term chartering agreement between ZIM and Seaspan Corporation…
A.P. Moller - Maersk will equip its fleet with the HydroPen firefighting system from Viking Life-Saving Equipment.With fires inside containers on fully laden containerships remaining a major security risk for the industry, A.P. Moller - Maersk has opted to adopt HydroPen…
California port leaders expect imports to rise as Shanghai, home to the world's busiest seaport, emerges from a two-month COVID-19 lockdown.The question is whether that release of pent-up goods will again swamp West Coast ports that have recently emerged from the pandemic's massive cargo wave…
Net Income of $4.65 Billion, Adjusted EBITDA of $6.60 billion, and Adjusted EBIT of $5.82 billionAs the containershipping industry enjoys its greatest boom of a generation, ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced its consolidated…
Global trade bottlenecks are more the result of demand spikes than supply chain snags, with pressure likely to ease in the coming months, the World Trade Organization's chief economist said on Monday.The WTO had thought in October that demand for goods would slow early in 2022…
Shipping group Maersk expects 2022 earnings to be around as high as last year, it said on Wednesday, as the supply chain disruption that sent freight rates soaring extends into the first half.It expects underlying earnings before interest, tax…
Swiss-based container group MSC has overtaken Denmark's Maersk as the world's biggest shipper, the company said, confirming data from intelligence provider Alphaliner.After taking delivery of several ships last year, MSC or Mediterranean Shipping Company has capacity to move the equivalent of 4…
Shipping group A.P. Moller-Maersk said on Tuesday record-high freight rates boosted quarterly earnings despite lower container volumes due to congestion at ports.The coronavirus pandemic has prompted a shortage of container ships and logjams at ports at a time of high consumer spending…
Congestion off China's top two container ports Shanghai and Ningbo is worsening following the shutdown of a container terminal in Ningbo where a COVID-19 case was detected this week.Tighter restrictions to fight China's latest coronavirus outbreak are starting to hit more parts of the economy…
Predictive intelligence tech company Windward has launched Container Insights, a capability that provides live screening and tracking of containers and Bill of Lading (BOL) verification.The new capability, which Windward says enhances the company’s current Cargo Insights…
Iceland-based shipping and logistics firm Eimskip has appointed María Björk Einarsdóttir as CFO, to take over from Egill Örn Petersen, who has decided to resign due to personal reasons. Egill Örn Petersen, who has been the CFO of Eimskip since the beginning of 2019…
The surge in U.S. container imports continued in April when West Coast loaded imports amounted to 1.10m TEU. Imports had never exceeded this level until August 2020, and developments in the past nine months mean that April imports are only the sixth highest on record…
With historically high freight rates, fleet utilization and demand, there is no end in sight for the red-hot containership market.Container shipping giant Hapag-Lloyd CEO Rolf Habben Jansen candidly said “nobody saw this coming” as “we’ve seen a spending shift from services to goods”…
