ShippingWatch

A.P. Moller - Maersk boss Vincent Clerc is more worried about consumers' purchasing power than the actual punitive tariffs being bandied about. “What’s important to understand is that punitive tariffs do not in themselves slow down trade. What affects trade is the purchasing power of consumers,” he says following the group’s earnings report for 2024. “It has a negative impact if you can buy less stuff than you could before." #shipping #logistics #oceanfreight #business

A.P. Moller - Maersk expects to see annual savings of USD 500m in efficiencies from Gemini Cooperation with Hapag-Lloyd AG. “And that’s in US dollars. Not in Danish kroner,” says chief exec Vincent Clerc. “I would like to see half of that amount already in the second half of the year. That will make it a financial success," he said at a press conference following publication of the group's 2024 earnings report. #shipping #oceanfreight #logistics #business

A.P. Moller - Maersk points to Hapag-Lloyd AG partnership Gemini as a top risk factor in the coming years. "The new network may not operate as intended and deliver the targeted results in terms of reliability and costs," writes the container major in its annual report. ”In the longer term, this could be driven by hubs capacity and flexibility or meltdown, leading to lower reliability, increased costs and loss of customer confidence,” writes Maersk about the potential risks. #shipping #oceanfreight #logistics #business

A.P. Moller - Maersk expects an operating profit (ebitda) in the range of USD 6-9bln for 2025, shows Thursday's annual report. The container major expects to see Red Sea effect continue in the first half of the year, after which market could dive. "Our ability to navigate shifting circumstances and ensure steady supply chains for our customers was put to the test throughout 2024," says chief exec Vincent Clerc in the report and adds: "(...) we are uniquely positioned to support our customers in an era where geopolitical changes and disruptions continue to reinforce the need for resilient supply chains." #shipping #logistics #oceanfreight #business #geopolitics

The newly reshuffled container alliances are scrambling to fill their ships, and this is dragging freight rates down, says DSV - Global Transport and Logistics. “It’s the four new alliances, more than it is [the crisis in] the Red Sea, that are driving the drop in rates at the moment,” said chief exec Jens Lund following Tuesday's earnings report. "(...) the new alliances of a certain size in the market are naturally creating a lot of disruption at the moment, and it’s hard to predict where it will end up." A.P. Moller - Maersk and Hapag-Lloyd AG launched their Gemini Cooperation on Feb 1, and MSC Mediterranean Shipping Company is now going solo outside of the alliances. #shipping #logistics #oceanfreight #business

Tanker operators TORM, Maersk Tankers and Hafnia deny responsibility for sold vessels turning up in shadow fleet carrying Russian oil. All sales have taken place according to the rules and in compliance with all sanctions against Russia, Russian companies or individuals, the carriers tell ShippingWatch. The comments comes after media Danwatch and 12 other news outlets reported that the three carriers along with DS NORDEN have sold a total of ten ships since 2022 that have emerged in the fleet of tankers transporting sanctioned Russian export oil. #shipping #oceanfreight #business #sanctions #logistics #geopolitics

The NEOM mega city project in Saudi Arabia, where DSV - Global Transport and Logistics is a partner, is still struggling with uncertainty and delays. “There has been modest activity in 2024, and the project is still in a ramp-up phase. So there is still a longer run-in in Neom and also more than planned,” said DSV boss Jens Lund at a conference call Tuesday. In its annual report, DSV writes that it expects to spend around USD 97m on its joint venture with Neom in 2025. #shipping #logistics #business #neom https://lnkd.in/dUNNxZ5T

DSV - Global Transport and Logistics highlights integration of DB Schenker as the top risk for its company and earnings in the coming year. “The acquisition of Schenker is the largest deal in DSV’s history and brings integration challenges and increased operational complexity as DSV scales its operations significantly,” management writes in DSV's annual report. The acquisition of the German peer makes the combined company the world’s largest logistics player with 147,000 employees worldwide and a combined revenue of USD 34bn. #shipping #logistics #oceanfreight #business

Shipowner associations World Shipping Council and INTERNATIONAL CHAMBER OF SHIPPING LIMITED are confident that the sector can handle am all-out trade war. “Shipping, however, will continue to prove its resilience, and will remain a cornerstone of economic stability, moving the essential goods that sustain businesses and communities worldwide,” says Guy Platten, secretary general of ICS. “As the global economy realigns in response to trade measures, so does shipping. A decline in one trade route can result in growth elsewhere, as supply chains shift to accommodate new realities,” writes Joe Kramek, president and chief exec of WSC. #shipping #logistics #oceanfreight #geopolitics #business #tradewar #tariffs

DSV - Global Transport and Logistics expects an operating profit of up to DKK 17.5bln for 2025, not including effects from acquisition DB Schenker. The German freight forwarder is expected to be integrated in Q2, after which a significant guidance upgrade seems likely. The company's net profit for 2024 dropped to DKK 10.1bln, down from DKK 12.4bln in 2023, while revenue for the year grew to DKK 167.1bln from DKK 150.7bln the year before. #shipping #logistics #oceanfreight #business