Q4 outlook

Cosco Spot Rates Stronger in Q4 Amid Surge in Earnings

  • Leading Chinese investment bank CICC has forecast Cosco Shipping Holdings will earn another Yuan2.5bn in Q4 after posting a net profit of Yuan2.7bn in Q3.
  • Chinese investment bank CICC said that the results have met its anticipation, and forecast continued robust performance in the fourth quarter.
  • Transpacific rates have been hovering at high levels since September, while rates on other routes have also rebounded quickly, according to a research report of the bank.

Strong spot rates of COSCO...

https://mfame.guru/cosco-spot-rates-stronger-in-q4-amid-surge-in-earnings/

Maersk Upgrades Profit Expectations Amid 2,000 Job Cuts

  • Maersk has laid off around 2,000 employees in relation to the organizational changes that shut down brands Damco and Safmarine.
  • Combined with increased demand, this makes Maersk upgrade its full-year guidance for 2020.
  • The outlook for 2021 remains uncertain due to the ongoing pandemic and the positive impact from stimulus packages may be less strong in 2021.
  • The potential new lock downs will impact demand and the timing and effectiveness of a potential vaccine will impact 2021.

A.P. Moller –...

https://mfame.guru/maersk-upgrades-profit-expectations-amid-2000-job-cuts/