Maersk reveals record quarterly performance, predicts Q3 will be stronger

A.P. Møller – Mærsk has revised its full-year guidance once again as the red hot container market shows no sign of simmering. Maersk, the world’s largest containerline, now expects a full year earnings before interest, taxes, depreciation, and amortization (EBITDA) of between $18bn to $19.5bn, up...

https://splash247.com/maersk-reveals-record-quarterly-performance-predicts-q3-will-be-stronger/

American manufacturer files landmark suit with the FMC over soaring liner charges

An American furniture shipper has filed a $600,000 lawsuit with the Federal Maritime Commission (FMC) against a couple of global containerlines, which it claims have repeatedly contravened terms of the US Shipping Act. The case will be watched carefully by other shippers, hit hard by huge price...

https://splash247.com/american-manufacturer-files-landmark-suit-with-the-fmc-over-soaring-liner-charges/

Key milestone for Dammam container terminal upgrade project

Saudi Global Ports (SGP), a subsidiary of Singapore-based PSA International, has started the first phase of its upgrading and development programme at the First and Second Container Terminals in King Abdulaziz Port Dammam, by appointing Jacobs Engineering Group as the Civil Engineering Consultant for the project. The First Container Terminal, which has been in operation for more than 30 years, will be modernised, while Second Container Terminal will be expanded to serve the next generation of...

https://www.themaritimestandard.com/key-milestone-for-dammam-container-terminal-upgrade-project/

RSGT completes equity sale deal

After completing all the necessary conditions and obtaining the required regulatory approvals, the founding shareholders of Red Sea Gateway Terminal Limited (RSGT) have officially completed a 40% equity sale to the Public Investment Fund (PIF) and Cosco Shipping Ports Limited (CSPL), each of which now holds a 20% stake in the Jeddah terminal operator.

The investment from PIF is expected to help to transform RSGT into both a regional and global logistics hub, while the terminal will benefit from...

https://www.themaritimestandard.com/rsgt-completes-equity-sale-deal/

Maersk to revamp regional network

Maersk Line is restructuring its regional container shipping network that connects India, Bangladesh, Sri Lanka, Pakistan, UAE and Saudi Arabia to global markets. The changes are primarily aimed at improving transit times, offering a greater degree of predictability and offering more flexibility.

In future the ME4 service will offer a direct link between Doha and North Europe, improving speed to market by up to 5 days. There will also be a reduction of up to 6 days in transit times from Jebel...

https://www.themaritimestandard.com/maersk-to-revamp-regional-network/

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