ATLANTA, Georgia – Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released its April report on the ongoing global shipping crisis and analysis for logistics and supply chain professionals. The report shows stronger U.S. ocean container import volumes in March, but reduced wait times at top U.S. ports. However, China’s COVID lockdowns combined with recent geopolitical conflict suggest there may be continuing levels of...
Markets
EU has opportunity to harness crisis to deepen economic union, Structural reforms required to safeguard democratic future, and more
EU has opportunity to harness crisis to deepen economic union
By Ellie Groves and Taylor Pearce
The response from the European Commission after the 2008 financial crisis was slow and partial. Having learned from these missteps, the European Union’s response to Covid-19 was swift. The Russian invasion of Ukraine has posed yet another crisis. The EU has an opportunity to harness these crises to implement much-needed reform within its institutions and member states.
Structural reforms required to safeguard democratic future, Europe needs action now on inflation to brake loss of euro trust, and more
Structural reforms required to safeguard democratic future
By Sunil Sharma and William White
Macroeconomic stabilisation policies cannot address the deep structural problems that confront the economies of many advanced democracies. Indeed, pretending that they can poses a threat to democracy itself as a worsening economic reality increasingly disappoints popular expectations. To confront this political vulnerability, actual policies must be improved, but popular expectations must also become more...
Fugro Trading update Q1 2022
Strong revenue and backlog growth
Improved EBIT and cash flow
- Revenue increased by 23.3% supported by high client demand in energy and infrastructure markets
- Overall margin improvement in a seasonally weak quarter
- Free cash flow was negative EUR 7.2 million; a significant year-on-year improvement
- 12-month backlog is up by 27.8% to EUR 1,164 million
- Outlook full-year 2022: continued revenue growth and further margin expansion.
NOTE: SEE ATTACHED PDF for KEY FIGURES
Mark Heine, CEO: “We experience...
https://allaboutshipping.co.uk/2022/04/22/fugro-trading-update-q1-2022/
FTSE opens higher following mixed overseas trading, with Tesla helping lift tech sentiment
- Tech-heavy NASDAQ is down over 1% after Netflix’s disappointing subscriber losses, but Tesla results put the worst of tech fears to bed
- FTSE100 up 0.4%, following mixed trading from Wall St and Asia
- US Federal Reserve chair Jerome Powell, ECB President Christine Lagarde and Bank of England governor Andrew Bailey are due to meet today, with inflation, interest rates and the Ukraine crisis likely to be discussed
- Oil price...
Rentokil 1st quarter trading update – sales grow after raising prices
Rentokil Initial has released a trading update covering the three months to end-March. The group’s sales grew by 1.8% to £722m. Strip out the extraordinary contribution from Covid-related disinfection revenues in the prior year and the underlying growth rate was 12.3%. The group was able to recover all of its input cost inflation by raising its own prices, achieving organic revenue growth of 8.0% in the process. The large...
Xeneta: Long term container freight rates from US to Far East falls – now back in line with spot market
After months of long term rates being significantly more expensive than short term rates on the backhaul US to Far East trade, a fall in long term rates at the start of Q2 has brought the two back in line.
Link to analysis: Xeneta Weekly Container Rate Update – week 16
In mid-March, long term rates were USD 350 per FEU higher than the spot market for containers going from the US East Coast towards the Far East. Since then, long term rates have fallen by USD 250 per FEU, while spot rates...
Invitation to an LSLC HYBRID event – The Polar (2021) – 25th April 2022
THE LSLC IN ASSOCIATION WITH TWENTY ESSEX WELCOMES MEMBERS AND OTHER COMMERCIAL PROFESSIONALS TO THE CENTRE’s 3rd WEBINAR IN ITS 2022 GLOBAL WEBINAR SERIES
THE POLAR [2021] EWCA Civ 1828;
[2022] 1 Lloyd’s Rep 375
The Court of Appeal considers the incorporation of a charter war risks / K&R regime into bills of lading
Specific issues to be discussed will include:
- The approach to the incorporation of charterparty terms into bills of lading in general
- Whether exclusive insurance codes in charters will...
Market Report – US and Europe markets up while Netflix hits the headlines for the wrong reasons
Steve Clayton, HL Select fund manager:
“Stock markets were strong in the USA last night, with the S&P 500 index rising 1.6% and the tech-heavy Nasdaq index jumping 2.2%.
Japan’s Nikkei index rose 0.9%, but the Hang Seng index in Hong Kong dipped 0.3%, taking the lead from a 1.4% slump in the Chinese market.
In Europe markets are trading slightly firmer, with the UK’s FTSE 100 index up 3 points to 7604 in early trade.
Netflix hit the headlines for all the wrong reasons when it released results after...
Market hiccups whilst the Ukrainian inferno continues and Covid makes waves
Post Easter Market losses whilst the Ukrainian inferno will last and spill over like Covid… A crucial second Easter Week given the Orthodox Easter but with unorthodox combat. Shame! John Faraclas’ brief Market and geopolitics recap:
The BDI (Baltic Dry Index) lost 22 points since last week (14/04) and now reads 2,115…
The Capes’ BCI was down 139 points losing the 1,400 points threshold and now stands at 1,342…
Mini gains for the Panamaxes’ BPI now at 3,079 – up 37 points.
Gains for...