Maersk Archives - The Loadstar

Supply chain disruption costly for shippers, but helps build resilience, says Maersk

Charlotte Goldstone — Wed, 06 Nov 2024 13:22:26 +0000

The regularity of ‘black swan’ events has meant unexpected costs for European shippers, according to Maersk, but it could be a chance to “build back better”.
Repeated disrupted supply chains remain “a major challenge” for shippers across Europe, bringing “significant financial impact” for their bottom lines, according to a survey of more than 2,000 Maersk customers in the region.
The Danish carrier found that more than 76% of businesses experienced ...

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‘Strong’ Q3 for Maersk as it prepares for alliance launch – but no bid for GXO

Alex Lennane — Thu, 31 Oct 2024 13:31:07 +0000

Maersk has ruled out bidding for GXO, as it revealed strong Q3 earnings this morning. It also predicted little to no disruption for customers as it rolls out the Gemini network next year.
The group finished the quarter (see charts below for more detail) with ebitda of $4.8bn and ebit of $3.3bn, “which on a year-to-date basis, puts us more or less on the same level as last year”, said CEO ...

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Liner industry frustration as India demands millions in taxes

Angelo Mathais India correspondent — Tue, 15 Oct 2024 11:04:33 +0000

Foreign-flagged container shipping lines facing the heat from Indian tax authorities have been lobbying the government for relief, with no results thus far.
The issue has significant repercussions for the liner industry. Last year, all major box ship operators on Indian trades, received a government notice over their alleged failure to fulfil their obligations under India’s Goods and Services Tax (GST), a unified tax law implemented in 2017.
Maersk, for example, was ...

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Close price gap between fossil fuel and going green, urges Maersk CCO

Charlotte Goldstone — Fri, 11 Oct 2024 10:12:48 +0000

Shippers shouldn’t have to choose between “what is cheap, and what is the right thing to do”, according to Maersk’s CCO Karsten Kildahl, as he urged authorities to close the fuel-pricing gap.
On the sidelines of Maersk’s vessel-naming ceremony at the UK port of Felixstowe this week, Mr Kildahl explained: “If I look at our top 200 customers, more than two-thirds of them already have science-based targets for their emissions. And ...

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Gemini warns of ‘meltdown’ when Suez reopens

Charlotte Goldstone — Thu, 10 Oct 2024 10:51:17 +0000

Maersk has warned of an “operational meltdown” when carriers are able to use the Suez Canal again.
The Danish liner, along with Hapag-Lloyd, announced their hub-and-spoke Gemini Cooperation services would go round the Cape of Good Hope instead of the still-volatile Red Sea.
Maersk told customers yesterday: “After thorough consideration, and given the continued safety concerns in the Red Sea, Hapag-Lloyd and Maersk confirm they expect to phase-in their Cape of Good ...

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Forwarders on the hook for millions following Debenhams collapse

Bangladesh correspondent — Wed, 09 Oct 2024 12:28:52 +0000

Garment factories are demanding millions of dollars from a forwarder, following the collapse of the UK’s Debenhams chain in 2020.
Bangladeshi garment exporters are looking for legal avenues to reclaim the debt from Debenham’s local freight forwarder, Expo Freight, as factory workers have not been paid.
Debenhams filed for bankruptcy in April 2020 owing some $70.48m to 36 Bangladeshi suppliers. Although some $60m has now been recovered, garment shippers are demanding logistics ...

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Box lines declare force majeure as White House defends ILA

Alex Lennane — Wed, 02 Oct 2024 10:12:54 +0000

Shipping lines are beginning to declare force majeure, as the US east and Gulf coast port strike enters its second day.
Any hope from employer association USMX that the government might intervene to halt the economically damaging strike was dashed yesterday, when the White House landed firmly on the side of the union.
The administration also warned carriers against ‘price-gouging’ as the strike continues.
A statement from President Biden urged both sides to ...

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Shippers scrambling for alternatives as box lines divert from closed ports

Alex Lennane — Tue, 01 Oct 2024 12:22:42 +0000

Video footage of the 4,300 teu MSC Arushi R (pictured) departing Houston yesterday, sparsely loaded with just a few containers, could become one of the defining images of the first day of the ILA’s strike.
The vessel is deployed on MSC’s transatlantic North Europe-Mexico service, which does not normally feature a call in the US. However, the carrier appears to have tried to make a last-minute stop, before the midnight strike deadline, ...

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Maersk to provide fulfilment services for Amazon from French warehouse

Stuart Todd — Tue, 24 Sep 2024 11:23:24 +0000

Maersk is poised to carry out fulfilment services for Amazon from a large warehouse in northern France, according to a recent French media report quoting a senior executive at the US etailer.
A spokesperson for Maersk told The Loadstar the company would be occupying 75% of a 100,000sq metre warehouse on a business park inDenain, but would not confirm Amazon was the customer.
The spokesperson said Maersk planned to employ 430 workers ...

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Global biofuel production capacity predicted to be unable to meet shipping demand

Charlie Bartlett technology editor — Thu, 12 Sep 2024 11:58:35 +0000

UK ship classification organisation Lloyd’s Register (LR) has warned shipowners and their decarbonisation-conscious customers that the cost of liquefied bio methane (LBM), the presumed drop-in replacement for LNG in the latest generation of newbuilds, is rapidly increasing compared with other forms of biofuel.
Shipping giants are looking to biofuels as one of the few options available to them to meet oncoming FuelEU guidelines, which mandate an increasingly aggressive schedule of CO2 ...

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