Maersk Line

Maersk’s rate-cutting shows flop of Gemini’s reliability promise

Maersk Line has been singled out for aggressive discounts on Asia-North Europe rates, as consultancy Linerlytica suggested that Gemini Cooperation, the Danish carrier’s alliance with Hapag-Lloyd, has failed to convince shippers to pay a premium for schedule reliability.

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https://container-news.com/maersks-rate-cutting-shows-flop-of-geminis-reliability-promise/

Houthis attack US cargo ships

The American military said its warships fought off attacks by Houthi militia on three U.S.-flagged merchant ships in the Gulf of Aden.

Destroyers USS Stockdale and USS O’Kane successfully defeated a range of Houthi-launched weapons while transiting the Gulf of Aden Nov. 30-Dec. 1, according to a statement Monday from United States Central Command (CENTCOM).

CENTCOM said the warships were escorting three U.S.-owned, -operated and -flagged merchant ships in the Gulf south of the Red Sea where...

https://www.freightwaves.com/news/houthis-attack-us-cargo-ships

U.S. port strike fears grow as ILA halts negotiations with USMX

Raising the specter of a labor dispute paralyzing container traffic at U.S. ports on the East and Gulf coasts, the International Longshoremen’s Association (ILA) on July 10 announced it had suspended talks with the United States Maritime Alliance (USMX) that had been scheduled for the next day. The decision arises amid ongoing negotiations of local agreements under a coast-wide master contract, set to expire on September 30, 2024.

The ILA said that it canceled master contract talks with the...

https://www.marinelog.com/inland-coastal/ports-terminals/u-s-port-strike-fears-grow-as-ila-halts-negotiations-with-usmx/

Maritime Partners swoops on Maersk Line Limited subsidiary

Within weeks of announcing it was to acquire the nine Jones Act tankers owned by Oslo-listed AMSC ASA (the company formerly known as American Shipping Company), Metairie, La., headquartered Maritime Partners LLC reports that on September 20, 2023, one of its managed funds acquired Norfolk, Va.-based U.S. Marine Management LLC (USMMI) from Maersk Line Limited, the U.S.-flag subsidiary of A.P. Moller-Maersk.

USMMI is engaged in chartering U.S. flag tanker and military support vessels, owned and...

https://www.marinelog.com/news/maritime-partners-swoops-on-maersk-line-limited-subsidiary/

Maritime Partners buys US-flag tanker business from Maersk Line

Maritime Partners, a provider of maritime financing solutions primarily focused on Jones Act vessels, has announced that on 20 September, one of its managed funds acquired Norfolk, Va.-based US Marine Management (USMMI) from Maersk Line, Limited.

USMMI is engaged in chartering US flag tanker and military support vessels, owned and operated by USMMI, to the Military Sealift Command, a division of the US Navy, and the operation and maintenance (O&M) of US government-owned vessels.

USMMI currently...

https://container-news.com/maritime-partners-buys-us-flag-tanker-business-from-maersk-line/

Maersk hikes 2023 guidance but warns of ‘years’ of challenges

a chart showing Maersk rates

Maersk, the world’s second-largest container shipping company, raised its full-year earnings outlook Friday while simultaneously lowering its forecast for the second half.

The hike in full-year guidance was due to better-than-expected performance in the past — the second quarter — not greater optimism toward the future. Second-quarter upside was driven by lower-than-expected costs (in part due to slow steaming), not freight rates, which were in line with company expectations.

Conference call...

https://www.freightwaves.com/news/maersk-hikes-2023-guidance-but-warns-of-years-of-challenges

Maersk Is Idling More Ships, Highlighting The 2M Split

Credits: william william/ Unsplash
  • Maersk Line continues to lose ground to MSC with the highest number of ships idled at the moment.
  • On the other hand, MSC is still taking on fresh charters and second-hand acquisitions, as the Swiss-Italian carrier continues to launch new services.

A recent news article published in the Container News states that 2M split highlighted with Maersk idling more ships.

131 idle ships

Linerlytica’s report this week stated that there are now 131 idle ships, and Maersk...

https://mfame.guru/maersk-is-idling-more-ships-highlighting-the-2m-split/

Maersk and Hope Hicks resolve sexual assault case

Hope Hicks, a former midshipman on the Maersk Line, Limited (MLL) ship Alliance Fairfax, and MLL have resolved Hicks’ litigation against the company filed in New York Supreme Court in June for sexual assault and harassment during her cadet Sea Year in 2019.

MLL is a US vessel operator and a wholly-owned subsidiary of A.P. Moller – Maersk.

Attorneys for Hicks and MLL have mutually agreed that neither side will disclose details of their agreement.

“It is important to me that my case has brought...

https://container-news.com/maersk-and-hope-hicks-resolve-sexual-assault-case/

Shipping giant Maersk: ‘Significantly less demand’ but ‘no hard landing’

photo of a container ship operated by Maersk

It’s getting increasingly ugly for shipping lines in the trans-Pacific market. Spot rates are sliding relentlessly with each passing week. Liners are starting to suspend entire service strings: Maersk just dropped two trans-Pacific services, MSC and Matson canceled one each.

Is Maersk CEO Soren Skou — whose company operates the world’s second largest liner company — getting worried yet?

He doesn’t sound worried, at least, not about Maersk itself.

Skou addressed questions on current market...

https://www.freightwaves.com/news/shipping-giant-maersk-significantly-less-demand-but-no-hard-landing

Shipping profits stay ‘super strong’ as supply chain congestion mounts

photo of a Maersk container ship

The container shipping boom refuses to end on its predicted schedule. Maersk previously guided for a sharp slowdown starting in July. That didn’t happen. Now it sees a gradual pullback toward the end of the year.

On Tuesday, the world’s second-largest container liner operator pre-reported an all-time high $10.3 billion in earnings before interest, taxes, depreciation and amortization for Q2 2022. During a conference call on Wednesday, Maersk CEO Soren Skou said that Q3 2022 will be “equally...

https://www.freightwaves.com/news/shipping-profits-stay-super-strong-as-supply-chain-congestion-mounts

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