Maersk Line

Noose tightens on Russian economy as import options dwindle

Russia economy shipping imports

There’s no global trade embargo on Russia. No sanctions barring shipments of most consumer goods or manufacturing components. But you don’t have to target the cargo itself to throw a giant monkey wrench into the supply chain.

Russia’s import options are dwindling as it becomes more difficult for ships, trucks, planes and railways to move Russian cargo — and as shippers and carriers “self-sanction” despite being legally able to serve Russia.

Most Russian-flagged cargo ships were banned from...

https://www.freightwaves.com/news/noose-tightens-on-russian-economy-as-import-options-dwindle

PT Meratus Line charters boxship to Maersk for nearly 400% profit

Indonesian feeder operator PT Meratus Line has chartered one of its vessels to Maersk Line for a four-fold profit from the purchase price of the ship.

The 2007-built 2,700 TEU vessel, Meratus Tomini, has been chartered to Maersk Line for 40 to 45 months at US$45,000/day.

Assuming Maersk has had the ship for 40 months, this works out to total revenue of US$54 million, nearly five-fold of the US$11 million that Meratus Line paid to purchase the ship in September 2017.

Established by Bapak Hen Menaro...

https://container-news.com/pt-meratus-line-charters-boxship-to-maersk-for-nearly-400-profit/

Shipping giant Maersk could rake in $50 billion over just two years

container shipping

Maersk, the world’s second largest liner operator, earned more money in 2021 than in any other year in its history: $24 billion. It now predicts 2022 will be just as strong, but take that with a grain of salt. Maersk has a proven track record of being way too low in its guidance.

During a conference call with analysts on Wednesday, Maersk executives revealed new details on the carrier’s burgeoning long-term contract business, guidance for 2022 and yet another logistics acquisition: U.S.-based...

https://www.freightwaves.com/news/shipping-giant-maersk-could-rake-in-50-billion-in-just-two-years

Asia-USWC spot rates spike as Chinese New Year holiday looms

Container spot rates from Asia to the US west coast spiked this week, ahead of the Chinese New Year holiday on 1 February.
Drewry’s WCI US west coast component put on 5%, to $11,197 per 40ft, while the Freightos Baltic Index (FBX), which includes an element of premium fees, gained 3.5%, to $15,139.
For the US east coast, there were mixed messages from the spot indices, with the WCI up 2% on the …

The post Asia-USWC spot rates spike as Chinese New Year holiday looms appeared first on The Loadstar.

https://theloadstar.com/asia-uswc-spot-rates-spike-as-chinese-new-year-holiday-looms/

Korean antitrust body slaps $81m fine on price-fixing liner operators

The Korea Fair Trade Commission (KFTC) has fined 23 liner operators a total of $81m for ‘fixing’ freight rates on the South Korea to South-east Asia lane between 2003 and 2018.
Most of the major liner operators and a number of regional carriers were among those fined, including HMM, SM Line, Korea Marine Transport (KMTC Line), Pan Ocean, Sinokor, Maersk, Evergreen, Yang Ming, Wan Hai, SITC and Cosco.
KMTC received the heaviest penalty, …

The post Korean antitrust body slaps $81m fine on...

https://theloadstar.com/korean-antitrust-body-slaps-81m-fine-on-price-fixing-liner-operators/

More 2M transpac voyages ‘slide’ as vessels still queue at USWC ports

The 2M partners, Maersk and MSC, have cut two scheduled transpacific calls, but the two lines offer different reasons.
Maersk said today its TP6/MSC Pearl service would ‘slide’ by a week from its 1 February departure date ex-Asia, and the TP2/MSC Jaguar loop would also be delayed by a week from its advertised sailing of 14 February.
The Danish carrier said it was “in view of the accumulated schedule delays” in its …

The post More 2M transpac voyages ‘slide’ as vessels still queue at USWC ports...

https://theloadstar.com/more-2m-transpac-voyages-slide-as-vessels-still-queue-at-uswc-ports/

‘Snouts in the trough’ attack, as Maersk results are turbo-charged by 80% rate hike

As a harbinger of spectacular results from the liner industry for the final quarter of 2021, on the back of an 80% average rate increase and a new record for quarterly earnings, Maersk has again upgraded its full-year guidance.
Based on preliminary results, the Danish shipping company said today it expected to report up to a further $1.8bn in Q4 earnings, for a revised full-year ebit of $19.8bn.
Maersk said it would …

The post ‘Snouts in the trough’ attack, as Maersk results are turbo-charged by...

https://theloadstar.com/snouts-in-the-trough-attack-as-maersk-results-are-turbo-charged-by-80-rate-hike/

‘Thank God I won’t be on board’ – Maersk methanol ship design under fire

Maritime veterans do not appear to think much of Maersk’s new methanol vessel design, saying the forward-situated superstructure will cause a host of problems.
Ex-ship’s captain Arjun Vikram-Singh, currently CEO of Quantum BSO, said: “Thank God I’m ashore,” and called the new design a “monster”.
He added: “I hate to think of the poor souls who will sail on these ships. I wonder if any thought has been given to their comfort, …

The post ‘Thank God I won’t be on board’ – Maersk methanol ship...

https://theloadstar.com/thank-god-i-wont-be-on-board-maersk-methanol-ship-design-under-fire/

Demand rebound maintains India’s operational constraints, despite liner efforts

As the imbalance between supply and demand widens, container lines trading in the Indian market say they have made every effort to better manage shipper expectations, propelled by the resurgent global sourcing for Asian goods.
Echoing that sentiment, Sunil Vaswani, executive director of the Container Shipping Lines Association (CSLA), told The Loadstar liner operators substantially boosted equipment availability and vessel capacity levels over the past year to aid Indian export growth.
“About...

https://theloadstar.com/demand-rebound-maintains-indias-operational-constraints-despite-liner-efforts/

Co-operation critical for decarbonisation – but Maersk sails its own course

Airlines and shipping lines should work together to ensure sufficent prodcution of sustainable fuels.
But, even as speakers at class society DNV’s future fuels conference endorsed LNG as a bridging step, Maersk announced it could achieve net zero emissions 10 years early, by 2040.
Professor Lynn Loo, CEO of the Global Centre for Maritime Decarbonisation, said: “We need to move together. We want to foster collaboration across sectors, because these solutions don’t …

The post Co-operation critical...

https://theloadstar.com/co-operation-critical-for-decarbonisation-but-maersk-sails-its-own-course/

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