Ocean Volumes

Restocking boosts January US port activity

The past few years have brought plenty of questions as to whether the COVID-19 pandemic changed supply chains permanently or, once constraints eased, if supply chains would return to pre-pandemic patterns. Those answers are starting to reveal themselves as the ports release January figures.

The biggest East Coast port, the Port of New York and New Jersey, retained its place as the second-busiest port in the country in terms of loaded imports, only surpassed by the Port of Los Angeles.

On...

https://www.freightwaves.com/news/restocking-boosts-january-us-port-activity

Are ocean spot rates past their peak?

2023 was a challenging year for ocean carriers, especially those that have spot exposure. They have seen significant slashes to revenue and profitability. 

Zim Integrated Shipping (NYSE: ZIM), a carrier with more spot exposure than some of the other large ocean carriers, saw a 61% year-over-year reduction in third-quarter revenue, and earnings before interest and taxes fell by $1.77 billion to a loss of $213 million. The Freightos Baltic Daily Index from China to the North American west coast...

https://www.freightwaves.com/news/have-ocean-spot-rates-passed-their-peak

Maersk To Increase Full-year Earning To 43%

Maersk has upgraded its full-year earnings forecast by 43% and predicts the exceptional market situation, says an article published by The Loadstar.

Ocean volumes increased by 5.7%

In a trading update ahead of the release of its Q1 results next week, the Danish transport group reported an EBITDA level of $3.1bn from revenues of $12.4bn – up 106% and 71%, respectively, in the same period of 2020.

Maersk said, “Volumes in Ocean increased by 5.7% and average freight rates improved 35% in Q1 21,...

https://mfame.guru/maersk-to-increase-full-year-earning-to-43/