Maersk reports record Q2 results, expects even better Q3

A.P Moller Maersk has reported unaudited revenue of US$14.2 billion, earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$5.1 billion and earning before interest and taxes (EBIT) of US$4.1 billion for the second quarter of 2021, due to high container demand.

“The strong quarterly performance is mainly driven by the continuation of the exceptional market situation with strong rebound in demand causing bottlenecks in the supply chains and equipment shortage,” commented...

https://container-news.com/maersk-reports-record-q2-results-expects-even-better-q3/

Interview with Michael Rabinowitz, CEO of CoEnterprise: “Organizations can actually foresee congestion, pivot to a new plan, and avoid costly delays”

As the global port congestion has caused several challenges to the supply chain industry, it is important to see how technology and digital systems could assist in such cases.

Michael Rabinowitz, CEO of CoEnterprise, an enterprise software and services company headquartered in New York City, has expressed his views on the continuing global port congestion and the possible techy assistance with the right use of digital tools.

CoEnterprise was founded in 2010 and delivers supply chain and business...

https://container-news.com/interview-with-michael-rabinowitz-ceo-of-coenterprise-organizations-can-actually-foresee-congestion-pivot-to-a-new-plan-and-avoid-costly-delays/

Maersk’s digital platform strengthens its presence in Poland

Maersk’s digital logistics platform, Twill increases its presence in Gdansk, Poland, as a part of the company’s effort to provide improved products and services to its customers.

Twill launched in 2017 and four years later, it is expanding its presence in the Polish city where it has located its technology hub and is now recruiting developers, analysts, designers and many more functions to further support the continuously growing customers base on their digital logistics journey.

Twill is aiming...

https://container-news.com/maersks-digital-platform-strengthens-its-presence-in-poland/

TA earnings reflect improved market for truck stops in Q2

The earnings of Travelcenters of America showed significant improvement in most categories for the second quarter in comparison to 2020’s second quarter, when truck stops were rapidly adjusting to wildly swinging changes in their business because of the pandemic.

The rate of growth at TA (NASDAQ: TA) in 2021 compared to 2020 generally landed in the 20% to 25% range. For example, diesel fuel sales measured in volume were 21.2% more than last year. Nonfuel revenues from stores and retail services...

https://www.freightwaves.com/news/ta-earnings-reflect-improved-market-for-truck-stops-in-q2

ONE reports profit boom of 1,432% during the first quarter

Ocean Network Express (ONE) has seen an astronomical increase of 1,432% in its 2021 first-quarter profits, which exceeded US$2.55 billion, mainly driven by the continuous strong container market.

Besides, the Singaporean line has announced significant growth in its revenue, earnings before interest and taxes (EBIT) and earnings before interest, taxes, depreciation, and amortisation (EBITDA) during the first three months of the year, marking outstanding increases of 111%, 998% and 499%,...

https://container-news.com/one-reports-profit-boom-of-1432-during-the-first-quarter/

Maersk posts blockbuster Q2 results — and Q3 looks even better

Maersk

There’s a saying at public companies: “Underpromise and overdeliver.” A.P. Moller-Maersk has apparently taken that credo to heart in 2021.

At the beginning of this year, it introduced initial guidance for 2021 earnings before interest, taxes, depreciation and amortization of $8.5 billion-$10.5 billion.

In May, it raised its EBITDA guidance to $13 billion-$15 billion.

Then on Monday, it hiked it yet again, to $18 billion-$19.5 billion. The midpoint of the new range is double the midpoint of the...

https://www.freightwaves.com/news/maersk-posts-blockbuster-q2-results-and-q3-looks-even-better

Ocean carriers under fire for not honoring shipping contracts

On today’s episode, Dooner and The Dude are talking about a U.S. company that’s suing “collusive” ocean carriers and alleging price manipulation. Jon Monroe, founder, Monroe Consulting, tries to help us make sense of this market and what’s going on between shippers and carriers.

In the past three years, C.H. Robinson’s renewable energy business has grown by 654% as the sector rushes toward an expected sevenfold growth to $2.15 trillion worldwide by 2025. And today, these industry feats face...

https://www.freightwaves.com/news/ocean-carriers-under-fire-for-not-honoring-shipping-contracts

After a decline, DOE/EIA weekly diesel price heads higher again

The weekly Department of Energy/Energy Information Administration (DOE/EIA) average retail diesel price resumed its upward course Monday, climbing 2.5 cents to $3.367 a gallon.

The increase comes after last week’s decline of 0.2 cents a gallon, the first after a 12-week run of increases. 

This week’s price is the highest since Oct. 22, 2018. It is up 94.3 cents a gallon from where it stood at this time last year. 

But as has oddly seemed to be the case recently, the increase came on the same day...

https://www.freightwaves.com/news/after-a-decline-doe-eia-weekly-diesel-price-heads-higher-again

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