Maersk had more cash than it knew what to do with — but not anymore

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. Maersk’s stock price dropped by approximately 16%. Now that the company’s pandemic-era bonanza is well and truly over, it’s time to take a retrospective look at how Maersk invested its cash when profits were pouring in by...

Cosco chief slams rivals’ plans to be ‘end-to-end’ supply chain providers

China Cosco Shipping executive vice president Wang Haimin has rubbished the idea that carriers can be sole service providers of end-to-end container supply chains.
Mr Wang (pictured) drew comparison between competitors Maersk and CMA CGM’s push to become fully integrated container logistics providers and, at the other end of the spectrum, MSC and Hapag-Lloyd’s apparent focus on pure port-to-port shipping.
“Cosco is somewhere in the middle,” he told delegates at the TPM …

The post Cosco chief...

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.